All the content is provided for general information only and trade signals should not be construed as any form of regulated advice. It does not take into consideration your personal circumstances, including your investment objectives, risk profile, tax status, knowledge and understanding or financial situation. Past performance is no guarantee of future results.
Commentary
We see an ascending triangle continuing the Bitcoin uptrend as buyers are prepared to pay higher prices whilst sellers stay at the same level.
There was a breakout over the long-term resistance level around $4400 for Bitcoin that was capping price action.
Volume has increased on the rally following the breakout which could see Bitcoin move towards the next major resistance level at around $5200.