Watch this closely
#bitcoin
Afternoon Traders,
Here's what I am currently keeping my eye on at the moment. We are in this ascending megaphone pattern. This is typically a bearish pattern longer-term. The problem is that we don't know how much longer the pattern will hold before we, most likely, drop out of the bottom side. It could be weeks. It could be months. It could hold for a year. But what we should be keeping our eyes on the most is that bottom side. Today it sits at just under 67k. Tomorrow it'll be just over. By my calculations, it looks to be rising at about $437 a day.
Draw this one out on your charts and watch closely. As long as we remain inside the megaphone, I am still long, with growing caution over time. But once we break that bottom line, look out below!
Best,
Stewdamus
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