Let's run...
To me it seems we have broken out of a potential symmetrical triangle and are moving up to test the resistance of the larger bullish pennant. I think a small trade could be taken here as we move up, but I am waiting to see if we can break out of this larger structure. A measured move out of the symmetrical triangle would take us to nearly $44,000. That would make sense if the bull trend is still intact and we are to continue upwards...I am imagining a break of the previous ATH and then maybe back test it as support before continuing upwards. It will be a choppy ride, but I believe the trend is still bullish so I am expecting it to continue.
On the daily chart I think we are still consolidating into the bullish pennant. Let's see if we can break up out of this structure! Owhoooo!
To me it seems we have broken out of a potential symmetrical triangle and are moving up to test the resistance of the larger bullish pennant. I think a small trade could be taken here as we move up, but I am waiting to see if we can break out of this larger structure. A measured move out of the symmetrical triangle would take us to nearly $44,000. That would make sense if the bull trend is still intact and we are to continue upwards...I am imagining a break of the previous ATH and then maybe back test it as support before continuing upwards. It will be a choppy ride, but I believe the trend is still bullish so I am expecting it to continue.
On the daily chart I think we are still consolidating into the bullish pennant. Let's see if we can break up out of this structure! Owhoooo!
