KQMarkets
Long

Bitcoing - Ascending Triangle Continues Uptrend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We see an ascending triangle continuing the Bitcoin uptrend as buyers are prepared to pay higher prices whilst sellers stay at the same level. There was a breakout over the long-term resistance level around $4400 for Bitcoin that was capping price action. Volume has increased on the rally following the breakout which could see Bitcoin move towards the next major resistance level at around $5200.
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