Bitcoin has been broadly ranging but showing a clear affinity for the upper bound of the range at 59.4K. This appears to be the upper bound of a bull wedge pattern, so consider a breakout imminent. We are currently finding support from 57.7K which is a technical level and the intersection of a trendline. We are also seeing a green triangle form on the KRI, suggesting we will have support here. If not, 56.8K and 55.7K should provide support. When we do finally breakout, 61.6K is our next target.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.