Bitcoin making us sweat today as it wasn't until the last few hours of the daily candle that it got a spike to close above the long-term uptrend line.
Boy that was close!
It looked for sure we were closing below 8k and breaking down below the trendline, which would have meant the down side risk target became 6k.
Luckily we rallied though, now the question is will we see any follow through out push out to the upside of this large triangle pattern BTC has developed or is this just another blimp of a bounce like the last two we've seen this week.
We shall know in the next couple days!
Watch the video for more detailed discussion of what Ive shared above.
Need to learn the basics about bitcoin, the blockchain and wallets?
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.