The pattern can be clearly seen on the following 4-hour chart, and it will play out in the case of a breakout of the $7400 neckline in the next several hours, and it needs to be followed by a reasonable amount of trading volume.
For the full analysis:
cryptopotato.com
Bitcoin broke down violently: The coin had lost $500 from its price on the daily, marking $8010 as its yesterday’s low (Bitstamp).
We anticipated this violent move and stated that “if Bitcoin breaks down the wedge around the $8400 support, there is likely to be a quick move towards the $8000.” This is exactly what Bitcoin is up to, as of now.
Full analysis:...
since yesterday, following a failed retest of the upper trend-line around $9,450, Bitcoin is losing momentum slowly, and as of writing this, the coin is struggling to stay above the ascending trend-line (the lower angle of the triangle).
The last comes together with the critical 200-days moving average line. The 200-days MA is a significant indicator to...
Following its highest daily price increase since 2011 three days ago, Bitcoin made some retracement to the $8,900 price area, before forming another healthy higher low, as of yesterday.
Looking on the attached 4-hour chart, Bitcoin is ‘locked’ between three trend lines, in what looks like final preparations for another huge move.
Overall, Bitcoin looks bullish,...
