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Crypto-Hamster

BTCUSD: downtrend channel was broken upwards

Bitcoin (BITFINEX:BTCUSD)  
Crypto-Hamster Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis BTCUSD
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trendanalysis btcusd
The downtrend channel from 8.1k was broken upwards, which was preceded by an accumulation period around 7k for a relatively long time. If the price could hold above the top of the previous channel, there is a high chance of the realization of the accumulation to the upside. Watch for the breakdown to be confirmed.
Comment:
Not bad. After a short side-trade, I thought it might be a bull-flag (do those patter still work in our Bart-Simpson-like market?), but currently it is rather fast for it, yet the price goes up, chances to a rally increase.
Comment:
Yesterdays's breakout was a false one, the price returned to the previous channel. Probably, one could explain the action with the news from SEC about bitcoin ETFs.
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