Well-known trader and analyst Ton Weiss is betting on a strong Bitcoin breakout.
In a new video, Weiss informed his subscribers that Bitcoin has moved beyond the large descending triangle on the monthly chart. As a bullish pattern, the signal suggests an uptrend after breaking resistance.
I can't wait for this to happen. And the later this happens, the more brutal the growth will be. Bitcoin looks great. The monthly chart looks fantastic.
According to Weiss' chart, BTC needs to break through resistance near $60,000 to spark a massive rally above $100,000.
In the short term, Weiss said, Bitcoin should rise above a key level.
We are slightly off the moving average on this four-day candle. But the next four-day candle can easily break the next moving average, meaning that the next candle after it will have a moving average crossover. If the next candle breaks $51,750, I would again invest 20% to 33% in the market.
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