Past long weekend avoided the traditional price drop and put Bitcoin Price in Bullish Channel. Seems like Bulls have taken over. What coming week holds for us? Continue reading to find out.
Over the past few days, we have not seen strong moves on the bitcoin chart. We are now seeing a decrease in volatility, which is a signal that the price is gaining strength and a strong exit is coming with a high probability of upside.
You can clearly see on the chart that the price has tried several times to move above the $35,290 level, but it has failed to close above it and continue to move upwards. The price is now starting to move up to this level and locally each low is moving higher and higher, which is a good signal for the continuation of the trend. The best buying opportunity would be to break and retest this level as support with the targets mentioned above.
Bitcoin Price in Bullish Channel: Wedge Pattern
A big decisive moment is here as Bitcoin is also making a wedge pattern. Here is a near term wedge for bitcoin. Price is getting close to the apex so we should hope bitcoin price in bullish channel expecting a large move soon. We need to see Bitcoin hold $32,700 and push above $36,600 for validation of the Spring and Test.
P.S: Crypto Market is prone to high risk, DYOR.