Bitcoin broke above its short-term descending channel to confirm that the climb is gaining traction. This also completes a breakout from the bullish flag continuation pattern, indicating that a climb of the same height as the mast is in order. The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the uptrend is more likely to continue than to reverse. This might even lead to a break above the triangle top on the 4-hour time frame. If so, bitcoin might see a climb that’s the same height as the triangle, which spans $3,300 to $4,400. This might take ... (full story)