BitcoinLong
Bitcoin - Gold's Junkie Cousin
While Bitcoin didn't quite make it down to the level I was watching (linked below), it is shooting up to $12,134 right on schedule. This indicates even more bullish price action and could be signaling further upside. Especially if seller's at this level get squeezed out. Some consolidation first below this level would be ideal.
There is not only a breakout out here. A cup pattern is forming and could turn into a parabolic move as it has for Gold prices. However, the weekly MACD must stay above zero for this to work.
There is not only a breakout out here. A cup pattern is forming and could turn into a parabolic move as it has for Gold prices. However, the weekly MACD must stay above zero for this to work.
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Related publications
Disclaimer
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.