6.5 The current rise is very good! Is Bitcoin about to break through the historical high?

Bitcoin suddenly showed an upward trend last night, rising directly from around 68,800. The current price has reached around 71,000. From the recent Bitcoin triangle, the current price has broken through this triangle.

Then as shown in the figure, the next resistance of Bitcoin's rise is around 72,000. This wave is a rise after breaking through the triangle, and it is about to test the resistance of the previous high point. So can it break through smoothly?

We need to continue to observe from the daily level. In the previous article, we mentioned that the daily level is following a five-wave model. After confirming the rebound, the price is actually following the fifth wave of rise. So I currently think that there is a high probability that it is following the fifth wave of rise.

According to the rise of the fifth wave, I think it is no problem to break through the previous high resistance of 72,000. That is to say, I think the price will break through this place very smoothly.

Generally speaking, from the five-wave model, the rise of the third wave is the highest, but the rise of the fifth wave is also not weak. I have marked the rise of the third wave in the figure. Bitcoin has risen by nearly 20%. We can also predict the rise of the fifth wave.

At present, I think the rise of the fifth wave may be around 15%, which is also marked in the figure above. It can also be clearly seen that the fifth wave with a 15% increase easily broke through the resistance of 72,000. The expected rise target is about 77,000.

Then we can also clearly see from the macd indicator below that the macd fast and slow lines are currently forming a golden cross trend above the zero axis. The zero axis represents the bullish area. The fast and slow lines can form a golden cross above the zero axis. I think the next rise will be very strong.

So we have analyzed the current situation overall and found that the rise is very good! We can look forward to Bitcoin breaking through the historical high next!

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