Crypto Daily – After seven months of sideways price action, (BTC) is finally breaking out of the top of its bull flag. Is this the start of the next stage of the bull market, or could this be yet another fake-out and a failed rally?
Is this time different for $BTC?
It’s been such a long period of time since Bitcoin reached its all-time high at $73,800. Since that time, the king of the cryptocurrencies has reached the point of breakout several times, and for each one of those times, it has been rejected, to sink back down to the bottom of its bull flag and dash the hopes of the bulls yet again.
Will this time be different? This will very much depend on the price action on Wednesday. In all the other times that $BTC broke through the top of the bull flag, a daily candle was never able to close its body above the bull flag trend line. Therefore, $66,500 is the magic price that $BTC will need to close above by the end of play today.