Bitcoin is starting to get very interesting, with two breakout attempts from wedge patterns, on the 4-hour and the 1-week.

On the weekly chart the pattern has been building for 10 months, and such a breakout would imply a technical target around $127k. On the shorter 4-hour timeframe the wedge is two weeks old, an interesting combo. The most important thing is for these breakouts to hold, if they do then a quick teleport to $68k is possible. For me, the long offers an attractive R/R, with a stop loss below the 200 WMA, let's say $63,375.

The entire bullish scenario could be completely derailed by another rally in oil, that's just the nature of trading this year, there's nothing we can do about it. Cheaper oil would help the breakout a lot.

Institutions are showing the first signs of life this week after 3 months, ETF buying seems to be coming back, around +$380M in inflows over the last two days.

💙👽