Bitcoin Price
Bitcoin's possible upside appears capped by a recent run of negative news.
The above chart (prices as per Coinbase) shows-
Failed bullish breakout - BTC's failure to cut through resistance at $11,690, despite the upside break of the symmetrical triangle on Friday could end up strengthening the bears.
Currently, prices are threatening to drop below the rising trendline support.
50-MA, 100-MA and 200-MA are sloping downwards in favor the bears.
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A break below the rising trendline would open doors for $10,000 and possibly extend the drop to $9,000.
As discussed in the previous update, dips below the $10,000 mark are to be viewed with caution.
On the higher side, only a move above $11,690 could yield a sustained rally to $13,000.
Disclaimer: This #article should not be taken as, and is not intended to provide, #investment #advice. Please conduct your own thorough research before #investing in any #cryptocurrency.
Source:https://www.coindesk.com/bitcoin-price-looking-heavy-news-turns-negative/
It will take some time before the next real upward trend will start. But in the current unstable economic time it will happen suddenly amid the now starting hot trade wars.
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