Bitcoin is patiently waiting
We got a confirmed a bull trend in the end of April with multiple golden crosses on the daily and 4h after finding a bottom shortly after on the Black Thursday at around USD 3 500.
After reaching its peek at around USD 10 300 in the beginning of June BTC was ranging ever since still being above 21 EMA on weekly and 610 EMA on 4 h, which are actually aligned.
BTC got stuck in the triangle making lower highs and higher lows - brake out is eminent.
In case we get another fake-out from the triangle down, good entry points will be EMA support, which may align with a down sloping trend-line from 2017 highs and 61.8% fib.
Once price starts to rally, target becomes USD 11 700.
In case we brake to the downside, I would not expect the price to go lower than USD 7 800.
After reaching its peek at around USD 10 300 in the beginning of June BTC was ranging ever since still being above 21 EMA on weekly and 610 EMA on 4 h, which are actually aligned.
BTC got stuck in the triangle making lower highs and higher lows - brake out is eminent.
In case we get another fake-out from the triangle down, good entry points will be EMA support, which may align with a down sloping trend-line from 2017 highs and 61.8% fib.
Once price starts to rally, target becomes USD 11 700.
In case we brake to the downside, I would not expect the price to go lower than USD 7 800.
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