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kier.hetherington
Jun 6, 2018 6:07 AM

A little BTC analysis... Long

Bitcoin / DollarBitfinex

Description

Ran some technicals on BTC and found a huge wedge in play. After price fell from highs in December, it has been compressed within a wedge up until now. A clear break of the upper TL, which has held strong on 3 occasions could signal a bullish breakout which would have a knock on effect on other coins. However, a break of the lower TL is also possible although support has held strong for the last 7 attempts. I expect price to reach $11,500 by mid-August if breaks to the upside.
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