One month ago, I pointed out that $6,000 was the key hurdle to watch in Bitcoin. I said that further gains were likely if Bitcoin could close convincingly above that level. Since then, it has exploded to over $8,000, where it has been struggling recently. Bitcoin may be forming a pennant pattern, which may lead to an even more powerful surge if the cryptocurrency can break out of this pattern in a decisive manner with high volume:
For now, I am waiting to see if Bitcoin can break out of this pattern.