Bitcoin(BTC/USD) Update 28/02/2018: Trying Hard For Breakout.....
Bitcoin has been trying hard for a breakout through the Long Term RisingTrendline but failing for last two days. Currently, its down marginally at $10522 mark.
Though Bitcoin has crossed the Descending Channel on the upside but still it yet to crossed 52 Days EMA which is important inflection point to cross in order change in momentum which is still down as Bitcoin has been trading below it for quite some time.
On dominance side, buyers are having the upper edge on sellers as one can see on the chart above that when Bitcoin was falling down moves are greater in respect of shorter rising leg, but since bitcoin touched the low of $5700, buying legs are greater than selling legs which signifies the buyers dominance over sellers in short-term trend.
Other than above, Bitcoin is also in process of forming a Reverse Head Shoulder pattern. Its almost done and if neckline($12000) of this pattern is broken on the upside than potential target could be up to $18200 level.
With that said, I am signing off this update, hope you guys like it.
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You are great and your post is nice.so thanks for share good news
Good post
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