Hi guys!
Here are my thoughts on bitcoin for today.
BTC - Daily Chart
Tools used: Ichimoku Cloud, Moving Average and Trendlines
Quick update on bitcoin's price action for today. So far bitcoin has made higher low and higher high. Next resistance level would be 100 moving day average around $12,200 price area.
Although this current breakout seems quite slow but when things go parabolic it will probably take about a couple of hours. It will be nice to see if the ascending triangle I posted yesterday plays out.
If you look at the cloud there, currently bitcoin is half way through and I think has high probability of breaking out from the cloud. Note that the resistance around $11,700 is somewhat represented by the cloud (the flat section of the cloud).
Disclaimer
You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!
Glad to see some positive news on the TA side of things with positive news about BTC always coming alongside it! Thanks for the post
Glad to share some TA, bitcoin has been consolidating for a while now. It's nice to see some price action going on.