TonyTheBullSeverino

Bitcoin BTCUSD Daily Bollinger Band/Ascending Triangle Breakout

If the daily closes strong above here, we can assume this is an actual breakout. Next resistance is $75,900 if we get above here

It should move fast for it to be a confirmed breakout.

However, there's still a strong risk:reward setup for a short here.

I am not going to give a direction and let you decide

Shorting/selling at resistance is always a good move. Lots of downside and risk/

Market is clearly resilient, volatile, and if this shows just a little more strength should recover a lot of lost ground and move to $80Ks fast.

However, if we are still in a bear market, and I am very confident we are, no matter what this leads to new lows.

The upside may also be fairly capped in a bear market

Either way, a break above resistance is notable especially if we get strength and volume.

Rejection is also significant. It will be 9 different daily candles rejected from this resistance level. Repeated rejections will have absorbed buyers if i