Bitcoin nearly touches $6k, where will it go from here?

23, 2019, bitcoin reached a high of $5,650, which has been the highest valuation it has had since the low of Dec. 15, 2018, when it was trading at $3,129.

To sum up, a bullish signal is given when the indicators show a red nine candlestick and/or when a green two candlestick trades above the previous green one candle.

Conversely, a bearish signal is given when there is a green nine candlestick or when a red two candle trades below the previous red one candlestick.

Now the current candlestick is a red two, which has not traded below the previous red one, so a sell signal will be given if the next candlestick is a red three trading below the current red two.

28, at 12:00 AM UTC, when a green two candlestick traded above the previous green one candlestick and a stop loss would have been placed at the last lowest point of the bearish trend which would have been at $4,963.

Within an ascending channel, price does not always remain entirely contained within the parallel lines but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets.

A breakout above an ascending channel can signal a continuation of the move higher, while a breakdown below an ascending channel can indicate a possible trend change.

On the 1-day chart, bitcoin can be seen trading in an ascending channel since April 3.

After touching the lower support line of the channel on April 29, the price has moved up to reach the upper resistance line to then fall and bounce off from the middle channel line.

If bitcoin continues to trade within the upper side of the channel, it could be expected to see a period of consolidation before another move down to the bottom of the channel.