Bitcoin is officially in a bull run! The cryptocurrency price has been smashing through all resistance and surging higher day after day.
In this Bitcoin analysis, we will be talking about the rising triangle pattern that has just been completed on the Bitcoin chat and why our next Bitcoin target is at the $54k price region.
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More Bullish Signals
On the 1-hour timeframe, the Bitcoin price has just broken out of a rising triangle pattern. This a very bullish pattern and it supports our bias that Bitcoin has a very high probability of rising as high as the $54,344 price level which is also the traditional take profit region for this pattern.
If you read our previous Bitcoin analysis Must Read: Bitcoin Getting Ready To Surge Again! $50k Next? then you should be sitting on a lot of profit right now. However, if you are yet to enter a Bitcoin trade, it is best you wait for the next high probability trade setup
FOMOing into any trade right now especially on this triangle beakout will only lead to you chasing the price. And it is already halfway to our take profit.
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We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my bitcoin margin trading Guide. You can also check my top list of US bitcoin exchanges to trade with.