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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