Dear Steemit friends,
It seems that bitcoin price is forming a consolidation triangle that started in February. In the short-term, since bitcoin is near the bottom of the triangle, a bounce up towards $8500 is likely. In the medium-term, the question is still open: will bitcoin break out or break down?
How go you guys think? Share your thoughts in the comments.
Upvote & follow :)
Great analysis! I believe the short term scenario for Bitcoin is still very bearish and that price will continue to fall until we are trading below the $6,900 region. Price has began to develop lower highs and lower lows after falling through the support level of $7,500 level. We could see price trade as low as $6,400 by the end of the month.
SIR , i thought Btc is not going to broke next support center @myfinanceteacher
That is a pretty long consolidation. Hopefully bitcoin will not break down.