Bitcoin recently saw a great break after spending five days in consolidation. Bulls showed up with enough volume to break out of consolidation and send prices upward to $7,780 which is the daily resistance from the previous trend. This level will hopefully break, giving a higher high in price.
The daily has finished giving confirmation to a reverse head and shoulders pattern with a neck line at $6,800 which successfully broke and was never tested as resistance.
Technical indicators are still favoring bullish action on the daily and weekly chart. This should hopefully mean that there should be longer bull-favored action.
I hope everyone had a great weekend and has a great week ahead! Cheers.
