Bitcoin Price Analysis: Knock Arrows, Don’t Loose

Bitcoin Price Analysis: Knock Arrows, Don’t Loose

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Bitcoin price pushed through an important trendline intersection today. The technical picture biases further toward a bullish outlook. Time for traders to take aim, but don’t loose your arrows just yet.

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Bitcoin Price Analysis

Time of analysis: 13h00 UTC

Bitstamp 1-Hour Candle Chart


From the analysis pages of, earlier today:

The attached 1hr chart shows price action since the beginning of July. The orange line ascending from left to right is a Fib line that originates from the January 2015 low and it continues to attract price until now.

The blue line descending from the top left of the chart is a trendline that originates at the June high and runs across all recent price highs since then. As the market often does, it advanced price above the upper trendline at a significant intersection. This could be a pivotal event in the chart: if price remains above both trendlines then we

Read more ... source: TheBitcoinNews

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