KQMarkets

Bitcoin - Neutral - Descending Triangle

BITFINEX:BTCUSD   비트코인
As indicated on our analysis on the 16.08 we are in a descending triangle pattern as sellers are willing to go lower whilst buyers stay at the same level. Therefore we are still neutral at the moment even though Bitcoin has risen around 700 points from our previous analysis. We would want to see the market above the $11859 resistance level before changing our view to long and seeing the uptrend continuing.

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