Bitcoin Continues to Push Down

Bitcoin Continues to Push Down

By Oligon | structure_trading | 27 Aug 2019


Price is inside a bearish triangle pattern within the higher timeframe bearish descending channel with a strong resistance level above. Although Bitcoin’s price could rise to $10.6k, the expectation is for price to break and push lower at least to $9.3k, where a major support level is located, which would be a nice place to buy.

 

The support level might also be the point in which we’ll see Bitcoin rise strongly and break the long-term channel to the upside that could bring really higher prices on the table again.

 

Let me know what you think in the comments below and thank you for reading!



structure_trading
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