Summary:
Quick update on Bitcoin, As I mentioned in the my previous post the price has been trading on the trendline for few days now.
Bears and Bulls both trying their best to take over the trendline and turn it for their advantage. Meanwhile the price is slowly moving to the target zone of bear flag. MACD is staying at the same level which gives us hint of amount of selling vs bulling going on.
Bitcoin is reaching a very crucial zone, The bear flag target zone not only takes the price to the long term trendline support but also the the edge of the wedge. We have to observe how the price reacts at this level, It will be very crucial level to decide the future path of Bitcoin.
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Disclaimer:
I am not a financial advisor, nor the information posted in this article is a financial advice. The information in this article is my personal opinion and is not recommended to make any investment transactions based on it. I do not take any responsibility for the investments made based on my analysis.
