WE HAVE LIFTOFF!
BTC broke up and out of the consolidation box it had been floating in for the past couple of days. It has pushed up to the first major resistance at around 7780. If it gets rejected at this resistance level, we will head back down to retest the recently broken 7500 level. If the bulls have enough force and we break through this level we may keep pushing up to test 8k.
The next few candles will give us more indication if we will continue up or head back down to test support. Looking for a break in resistance or a rejection candle to confirm direction.
BTC broke up and out of the consolidation box it had been floating in for the past couple of days. It has pushed up to the first major resistance at around 7780. If it gets rejected at this resistance level, we will head back down to retest the recently broken 7500 level. If the bulls have enough force and we break through this level we may keep pushing up to test 8k.
The next few candles will give us more indication if we will continue up or head back down to test support. Looking for a break in resistance or a rejection candle to confirm direction.