The reason for the last rise in the price of Bitcoin - someone hid a lot of dollars. Everything else is unchanged. We are waiting for a long movement in the side.

Hi, Steemians…

Despite the fact that the price of bitcoin should soon fall, an unknown investor decided to buy this asset right now, urgently. That was the last price hike. Given the unstable situation in Venezuela, I think I know who this unknown investor is. Secret always becomes known.

Consider the current stock chart. Exchange Bitphinex. The timeframe is 12 hours.

A few days ago, the price of Bitcoin moved exactly within the pattern - a narrowing triangle bounded by lines (1, 3). But then, for some obscure reason, the bullish movement began quite abruptly. The result was the breakdown of the upper local resistance line 2. In principle, this hardly affected the Bitcoin market, except that the resistance line slightly changed the parameters. Now it is yellow line 3.

If you remember - in previous posts I called the border at $ 4,100. After that, it was clear that the attack on the top would soon cease and a rebound would follow. The only question was how much money this bull has.

The rebound took place and now we are seeing its consequences.

Now we have a slightly changed pattern, but the same triangular. In addition, we should not forget about the approaching next resistance lines 3 and 4. At the moment of approaching them, we will see the market reaction and determine further forecasts.

But I am still sure that sooner or later, the price of Bitcoin will drop again. Probably hard.

Good luck!

The @upvoteinvest team

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