Here's a breakdown of the bitcoin chart and what to watch for to confirm that the cryptocurrency is resuming its long-term trend back to all-time highs.
A quick glimpse of BTC's chart shows that the last five months have been peppered with additional breakouts and overbought readings.
Bigger picture, this is the most important chart pattern we're watching right now.
For bitcoin, that gets us to a target near $66,500, which is right in line with its former, all-time highs.
Zooming even further out, last year's bounce allowed bitcoin to maintain the same uptrend line it's been riding for years.
Persons:
bitcoin, overbought, Frank Cappelleri
Organizations:
SEC, BTC