When prices break out from a range, they very often retest.
In this case, bitcoin broke out of a wedge, it is likely going to retest that wedge in the next few days.
It would look something like this:
(Source: ~~~ embed:1098654453987713025) twitter metadata:VEFfUHJvZmVzc29yfHxodHRwczovL3R3aXR0ZXIuY29tL1RBX1Byb2Zlc3Nvci9zdGF0dXMvMTA5ODY1NDQ1Mzk4NzcxMzAyNSl8 ~~~
Then it would go on to make a higher high.
In this case that retest would be around $3,700 and the higher high would be over $4k.
Based on the above chart, I would not be surprised to see bitcoin go to $4,500 or so.
Some are calling for $5k or even $6k on this move.
I am just not sure this move has that kind of power just yet.
$6k is a big resistance point.
If it can get up near there that is unlikely to break on the first touch.
Again my thoughts are that we won't go any higher than $4,400-$4,500 during this next surge.
👍😁👍
Great
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