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Why Bitcoin (BTC) Is Stalling A Break To The Upside Despite Strong Bullish Signs

Bitcoin (BTC) has been trading sideways for a long time now despite strong bullish indicators that should have led to a move to the upside by now. If we look at the daily chart for BTC/USD, we can see that Bitcoin (BTC) has been trading inside a symmetrical triangle since November, 2018. However, if we look closely, we can see that the price is also trading within a bull flag as well as a falling wedge. The price seems to have run out of room to trade within this falling wedge and is now expected to break out of it. However, so far it does not seem that Bitcoin (BTC) is ready for a move. Whichever way Bitcoin (BTC) breaks from here, one thing is clear that the move will be decisive and it will determine the direction for the months ahead.

Before we get to why we think Bitcoin (BTC) has not broken to the upside yet, let us think about why it should have broken to the upside. While most of us are focused in on cryptocurrency charts, there are other developments going on in financial…

Read Full Story : Crypto Daily™

2019-02-01 14:08:00

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