The price of bitcoin has breached the ascending triangle resistance around $60k and, as expected, currently retesting as new support (see projected price path in my previous post) before climbing to new ATH. If price doesn't bounce at the current level, it's possible btc will continue in the triangle and touch the upward sloping trend line once more before breaking to the upside.
With the technicals looking strong, it's even more promising with the fundamentals adding to the bullishness of bitcoin. The dollar looks likely to continue declining in value and investors will protect their wealth from inflation by transferring funds to bitcoin. This is a good time to open a long position with stop loss below previous lower high.
Trade with caution. Not financial advice.
With the technicals looking strong, it's even more promising with the fundamentals adding to the bullishness of bitcoin. The dollar looks likely to continue declining in value and investors will protect their wealth from inflation by transferring funds to bitcoin. This is a good time to open a long position with stop loss below previous lower high.
Trade with caution. Not financial advice.
