Almost a month ago we spotted a beautiful price pattern on BTCUSD’s weekly chart, similar to the pattern we identified with Netflix’s stock, NFLX.
We then asked: Is Bitcoin Brewing to Pull a Netflix?
Last week we received a convincing start:
Bitcoin’s price broke above its best respected moving average resistance lines:
- 78-week SMA body resistance line ($27,318.34), registered 2022-04-11
- 80-week SMA wick resistance line ($27,854.34), registered 2022-04-25
That’s a beautiful breakout.
We’ll be monitoring the cryptocurrency’s price action to see whether BTCUSD continues up, similar to the super strong breakout NFLX pulled in the last few weeks.