Analyst Says, "Bitcoin is stuck in Bearish Pattern"steemCreated with Sketch.

in #bitcoin • 7 years ago (edited)

Analyst Says, "Bitcoin is stuck in Bearish Pattern"

Alastair Williamson from http://stockboardasset.com/ is concluding that bitcoin BTC/USD is stuck in a Bulkowski's Bump-and-Run Reversal Bottom formation. What this means is that sellers are starting to take control of the auction and force price lower.

For more upside in bitcoin, the descending sloped supply line (black) has to be violated. If not, then the projections to the downside could be in the 1800 handle as the auction attempts to rebalance.

2017-06-26_12-44-44.png

#crypto #cryptocurrency #cryptocurrencies #etherum
7 years ago in #bitcoin by
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