The week has gone pretty quick so far. We’ve spent the majority of our time watching for a break that – as discussed – we stated should come on the back of increased volume in the space now summer has drawn to an end. It’s taken a few days to come, but finally this morning we got what we were waiting for. Price broke through our predefined resistance level, and – something that we’ve not seen in a while – we got a sustained run through to take out a take profit target almost immediately.
This bodes well for today- we will likely see something of a near term, correction as the shorter term speculators book profits on the move, but beyond that we could easily see a return to the upside and another opportunity to get in and out of the markets on a bullish entry.
So, with this said, and as we head into a fresh European session this morning, let’s take a look at what we are going for in the bitcoin price and see if we can’t take advantage of the action one more time.
So as ever, take a look at the chart below to get an idea