Regardless of the catalyst, bitcoin has broken out of the range and clocked new highs.
Rangebound and gone....
Looking at the daily chart above we can see the range bitcoin was stuck in since March. For six months price bounced between 60k and 73k (with a couple of exceptions further to the down side).
Now we are getting a high volume big bodied candle thrusting price into new high territory. As awesome as this is to see, the key will be the rest of the week. Price remaining and establishing above 75K.
Eyes are definitely tracking upward at 100K with this breakout, but I'm eyeing the 85K area for a potential bull move target for any follow through that comes with today's breakout.
We shall see how things play out.
Posted Using InLeo Alpha
