Bitcoin is cheap. Could go as expensive as $70K soon.
Warning: our thoughts are ours; not financial advice.
The state of bitcoin at the moment:
Bitcoin recently broke out of a triangle (see our last analysis on bitcoin to understand this), and then closed above the 21 MA on the Daily chart.
Very significant moves.
So, what's next for bitcoin you might ask.
Bitcoin has just come to test the lower end of our channel once again. We believe by the end of the day, this selling pressure will be withdrawn, and at least, we make a daily close above the 21 MA.
If this happens, we could be on our way to the 68K - 70K price mark.
However, we'll be taking some profit just before the previous ATH. And just let the rest of the bag soar till our ultimate target.
Have a great trading week guys.
The state of bitcoin at the moment:
Bitcoin recently broke out of a triangle (see our last analysis on bitcoin to understand this), and then closed above the 21 MA on the Daily chart.
Very significant moves.
So, what's next for bitcoin you might ask.
Bitcoin has just come to test the lower end of our channel once again. We believe by the end of the day, this selling pressure will be withdrawn, and at least, we make a daily close above the 21 MA.
If this happens, we could be on our way to the 68K - 70K price mark.
However, we'll be taking some profit just before the previous ATH. And just let the rest of the bag soar till our ultimate target.
Have a great trading week guys.
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