Bitcoin testing multiple upside resistance levels

4 Eyl 2018

Bitcoin's recent bullish price action is testing multiple converging resistance lines, of which if broken, further upside may be in store, including the 400-day moving average near $8300 in the near term.

4 Eyl 2018

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In addition, two longer-term asymmetric triangle formations (see yellow area in chart))are developing, and their upper bearish (descending) and lower bullish (ascending) trajectories are pointing to intersect by early October 2018. A false breakout to either side of the triangle could precede a longer more decisive move.