Can Bitcoin break out 9300?
In the weekly chart, Bitcoin is showing a descending wedge. Current price is under the pressure of the threshold around 9300.
The reversal since this March is powerful, but I don't consider the chart as a pennant. In the past 4 weeks, it has been hesitating for too long to be a pennant.
The future 4 weeks are quite a decisive period for Bitcoin, if it fail to break out 9300, it'd most likely to retest 8000.
The reversal since this March is powerful, but I don't consider the chart as a pennant. In the past 4 weeks, it has been hesitating for too long to be a pennant.
The future 4 weeks are quite a decisive period for Bitcoin, if it fail to break out 9300, it'd most likely to retest 8000.
Nota
In the weekly chart, if two candlesticks break out 9500-9600, Bitcoin may test 10000. If a clear break out above 10000 shows up, I suppose there would be a new long-term bull trend.
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