Hope everyone had a great weekend! Hope it wasn't too hot! Speaking of hot, Bitcoin looks great right here!
Bitcoin is riding nicely along the trend line formed by the symmetrical triangle pattern that was eventually breached on the 10th. After a crash down to $1758, the price has rebounded nicely back above that trend line. Originally I had hoped and even expected a rest of the breakout (around $2450) but I must reassess with new evidence now presented. Assuming this new ascending triangle pattern holds, I would expect another move higher to all time highs.
What to watch out for:
Watch for a breakout of this current triangular pattern in the next 12-24 hours. We have been consolidating for the past few days so I'm expecting the next breakout shortly. If we hit about $2850, I'd be comfortable acknowledging the breakout's starting. So watch out for roughly that level and hello $3000!
