The bulls have grabbed Bitcoin by the horns once again. Today has shown some bullish price action in the Bitcoin charts. Let's take a look.
We did indeed make it to $2500 today. After I posted yesterday, the price of Bitcoin went up to $2400, then pulled back and bounced off of our old short term trend channel at $2300. It has since gone up and bumped it's head on $2500 a couple of times. It's forming another ascending triangle, and you guys know how I love to see those! The current price is $2457 and still inside of the triangle.
I would expect price to continue consolidating in the triangle for a little bit longer, then break out towards the next resistance level at $2669. Some more mining pools released blog posts expressing support for Segwit today, so I expect some more bullish action when more people find out this good news.
Of course, price could also pull back and retest support, but if it did I don't see it going below $2400 or $2300 at the worst. We've been having higher highs and higher lows since we bounced yesterday, so I expect the bull run to continue. As always, keep your stops tight and trade safely.
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Bulls are coming!
Any time now! LOL!
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Yes.
Great explanation.
I had similar projections.
I think we need to get businesses using BitCoin more.
Then, when it's seen more. It's used more. More dev appear.
But, can we do it?
Yep, it'll just take some more time. It is inevitable at this point.
thanks
i appreciate your trading tips
Thanks @cryptogrizz!
this is great , helps me since I dont trade well
Awesome! Thanks!