The bulls have grabbed Bitcoin by the horns once again. Today has shown some bullish price action in the Bitcoin charts. Let's take a look.
We did indeed make it to $2500 today. After I posted yesterday, the price of Bitcoin went up to $2400, then pulled back and bounced off of our old short term trend channel at $2300. It has since gone up and bumped it's head on $2500 a couple of times. It's forming another ascending triangle, and you guys know how I love to see those! The current price is $2457 and still inside of the triangle.
I would expect price to continue consolidating in the triangle for a little bit longer, then break out towards the next resistance level at $2669. Some more mining pools released blog posts expressing support for Segwit today, so I expect some more bullish action when more people find out this good news.
Of course, price could also pull back and retest support, but if it did I don't see it going below $2400 or $2300 at the worst. We've been having higher highs and higher lows since we bounced yesterday, so I expect the bull run to continue. As always, keep your stops tight and trade safely.
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BTC: 1CXAVW4H2hLvsnor2SgwPfRYd586noDLbq
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Ethereum: 0xBdAD8baB568f8C1f9F01830fC3B49B1abbD9f32D
ETC: 0x2f185ff241b543d6452455d4b73376b7958b5209
PIVX: DSBKpyUY6epRQmpaFesFFV3H93QTPmJmQQ
Burstcoin: BURST-XFYD-YU7K-9MC5-3GYMT
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