Is Bitcoin About to Breakout?

[g-dubs]

As chatter of the crypto winter fades into the background, the crypto market continues to consolidate.

And bitcoin looks like it’s about to breakout.

Let’s go to the charts.

The chart below is the weekly chart.

As you can see we’re bumping up against the weekly resistance of about $4.075. As I write we’re only a few dollars away.

Now let’s back out a bit and look at the monthly chart, which is below.

As you can see there’s resistance around $4,200. Breaking this number would confirm BTC is in rally mode.

Also notice how we recently made a higher low.

Now let’s back out even further and look at BTC over the last year plus.

Getting deep in the technicals here… but the general rule is to buy the third fan breakout.

Conclusion – buy bitcoin (BTC).

I think we can rally to the $5,500 to $6,000 range in the short-term.

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Comments

[mrme1984]

I sure hope so

Posted using Partiko Android

[stackin]

Hmmm if it does, that’s great in the short term but we gotta test that 200 MA or below again in the future 🤷🏼‍♂️😂

Posted using Partiko iOS

[g-dubs]

200 dma about $5,386 now so I think we could definitely hit that level.
But will we hold, that's the question.

[knircky]

You just beat the shit out of me on seemmonsters. Good job man!

[knircky]

!bookkeping steemmonsters

[knircky]

!bookkeeping steemmonsters

[bookkeeping]

Hi @knircky!

steemmonsters

Received:

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Spent:

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[lupecoin]

Huge bull run coming soon. Not sure when but this is all gearing up towards something massive

[frankyboy]

ja oder nein?!

[promobot]

@g-dubs purchased a 5.76% vote from @promobot on this post.

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[boomerang]

This post has received a 5.7 % upvote from @boomerang.

[coingecko]

The most important questions for speculators and hodlers is probably:

When will the rally begin?

[traffical]

Conclusion-Buy BTC... Exactly! I am ready for the Bull to come back to BTC!

[frankyboy]

Hallo!
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[g-dubs]

Hallo!