Bitcoin Bullish Pennant Ready to Break Out?
Looking at this 30min chart it looks like Bitcoin is getting ready to make a move.
My whiskers are telling me that the trend is our friend and that there is more potential upside.
The targets for the break of the bullish pennant and the break of both the previous bull flag and ascending channel
show a target range above $50,000. This would be a good place to take some profits if you are long.
I will be expecting some consolidation above $50,000 before moving on towards my early March target of about $62,000.
The daily chart shows a bullish engulfing candle, so I'll be waiting in the bushes to see if it completes.
For me, this would be more confirmation of the bullish trend.
Owhooooo!
My whiskers are telling me that the trend is our friend and that there is more potential upside.
The targets for the break of the bullish pennant and the break of both the previous bull flag and ascending channel
show a target range above $50,000. This would be a good place to take some profits if you are long.
I will be expecting some consolidation above $50,000 before moving on towards my early March target of about $62,000.
The daily chart shows a bullish engulfing candle, so I'll be waiting in the bushes to see if it completes.
For me, this would be more confirmation of the bullish trend.
Owhooooo!
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