Bitcoin local bullish pennant after the Cup & Handle breakout

31 Mei

BTC 1day price action showing strength through the sideways movement within the symmetrical triangle bullish pattern Ichimoku cloud backs this idea with the leading spans cross-over to bullish along with the base and conversion lines cross-over bullish and the lagging span moving away from the candles which are sitting above the cloud The rsi is sitting nicely for an epic run at 54 with heaps of coal in the macd to fuel the next run OI has dropped off through the last couple of days downward pressure indicating that if we retest support before the epic move up we don't drop as far as previously thought We have the legendary 99ema for support just above the cloud and the cloud will also provide support within the green target loading area This green area could get retested but the other scenario is we breakout of the bullish pennant and start moving towards the next target around 84k This is the extension area of the bullish pennant and matches the 618 fib extension from the last correction of price between March-May 2024