Bitcoin broke through the 61k local resistance with great volume last night. However, there is still one last visit to show respect to the ~60K region and clear those huge leverage positions taken on the 1minute chart.
After clearing out the noise in that area, bitcoin can break 62.4k and off to the 66k and beyond we go!
The measured move from the possibly forming inverse H&S , the upward sloping resistance, as well as the psychological 70k all point to the 69k-ish as a strong resistance in the short term.
The bearish scenario to the 55k would only play itself out if we lose 59k aka above the mouth area.
I'm putting a tight stoploss regardless of the direction bitcoin can go after stopping me out and that's ok! To each their own :)
Cheers.
After clearing out the noise in that area, bitcoin can break 62.4k and off to the 66k and beyond we go!
The measured move from the possibly forming inverse H&S , the upward sloping resistance, as well as the psychological 70k all point to the 69k-ish as a strong resistance in the short term.
The bearish scenario to the 55k would only play itself out if we lose 59k aka above the mouth area.
I'm putting a tight stoploss regardless of the direction bitcoin can go after stopping me out and that's ok! To each their own :)
Cheers.
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