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Bitcoin Bullish ( Pennant )
With the closing of the last weekly candle , this is confirmation of a bullish close.
The pennant in yellow has not only been broken but the retest after the breakout has been bullish as well with the next confirmation being a broken 0.618 fibo level.
Weekly MACD has started showing a lighter shade of red signifying lesser selling power , based on my gut instincts , the MACD lines are going to cross in the positive zone upwards. Close monitoring of daily MACD is confirming this.
Target ? break of 1.0 fibo level and landing on 1.618 level.
The pennant in yellow has not only been broken but the retest after the breakout has been bullish as well with the next confirmation being a broken 0.618 fibo level.
Weekly MACD has started showing a lighter shade of red signifying lesser selling power , based on my gut instincts , the MACD lines are going to cross in the positive zone upwards. Close monitoring of daily MACD is confirming this.
Target ? break of 1.0 fibo level and landing on 1.618 level.
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