Hello, dear members of LeoFinance!
Today, of course, I will comment on the price chart of Bitcoin because it has experienced so much volatility intraday that has attracted a lot of attention and many crypto-pessimists popped up and started to claim for a 1413919195813-time that this is the end of Bitcoin, the 'bubble' burst and this is the beginning of the long-awaited 'end' of the cryptocurrency.
However, if we have a look a the 1-hour chart of Bitcoin (which is very dynamic and very fragile) there is still a bullish technical pattern, namely Broadening Rising Wedge:
So, although BTC/USD has experienced significant price volatility intraday, even in the 1-hour time frame the uptrend remains in place. For longer time frames, we even don't need to talk. It is obvious that in the long term there is only one direction for the price of Bitcoin.
To be continued ...
As of the time of writing, one Bitcoin costs $34'606,88 on CoinBase crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14,5 years, and as a cryptocurrency analyst for the last 3,5 years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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