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Title: [2016-07-14] Bitcoin Price Analysis - The halving consolidation Post by: CrimBit on July 14, 2016, 01:49:57 AM Since the recent strong breakout and subsequent pullback, bitcoin has slowly been moving sideways. Let’s review the general market setup on the daily chart.
http://bravenewcoin.com/assets/Uploads/_resampled/ResizedImage720342-The-halving-consolidation-1.png What we see is that the current volume is less than we have seen when prior price trends reversed. This should signal that BTC is in a long term consolidation phase, and in an overall bull market. We can also see that the price recently failed to close above the 50% fibonacci level ( a key area of support and resistance). http://bravenewcoin.com/news/bitcoin-price-analysis-the-halving-consolidation/ |
