Yesterday we discussed another bullish ascending triangle bitcoin was painting, suggesting a break to the upside. Today, we watched bitcoin break out and up, almost hitting our lower target of $11,500. It has since dropped back down to test the top of the ascending triangle (about $11K) which did act as support. Daily volume remains strong at just above $22 billion.
Zooming out on the weekly chart, we can see bitcoin is hitting a major area of resistance between $11,500 and $11,700. If you watch my videos, you know we’ve been discussing this area for awhile now. It will be a major test for bulls.
In today’s video I answer some your questions on various altcoins among other things. Of course we’ll also analyze bitcoin, discuss where price may be moving next, traps to avoid and so much more. I hope you find it helpful.
From retired airline pilot to full time crypto trader. Trading cryptocurrency provided the means to walk away from a demanding career to enjoy time focusing on what's important in life - family and friends. Helping others navigate the volatile crypto market is an amazing bonus.