I have been watching #bitcoin for sometime now waiting for the big move. In my previous analysis I predicted bitcoin falling to around 8k and it fell to 7k which is pretty close. Below you can find my latest review of #bitcoin for you to get a better understanding of what is happening to bitcoin from a technical standpoint.

Bitcoin Daily Chart Review

Looking at the daily chart below you can see price broke the daily bearish trendline which stood strong for a very longtime and soon after breaking it fell back under the bearish trendline.

If you look closer prices have now formed a wedge (I have outlined with points and trendline) which I think is very important and we could see some more play inside the wedge before breaking out. If prices breaks below 7k at anytime we will see more downward movement to at least 5k. A break above 11k however would be massive for #bitcoin and could mean its time to #moon #lambo. Either way it decides to break, it will be explosive!!!!

When Moon?

Let me know what you think in the comments.

Image courtesy of www.tradingview.com