Crypto Analyst: Bitcoin Price Chart Shows Textbook Bump and Run Reversal Bottom

Bitcoin price is at a critical juncture. The price of the first ever cryptocurrency has rallied far enough away from the current bear market low of $3,150 to give bulls confidence that the worst is behind them, but is still shy of a break of $6,000 that would confirm the bear market is over.

As traders, investors, and analysts review Bitcoin price charts to better determine if the bottom is indeed in, one particular crypto analyst has discovered similarities between Bitcoin’s price chart structure and that of textbook examples of a bump-and-run reversal bottom. Examples from the textbook provided by the analyst could help crypto traders understand what two scenarios could play out in the coming days for Bitcoin.

Crypto Analyst: Bitcoin BARR Bottom Means “Bears Are Fucked”

At the start of April, Bitcoin rallied nearly $1,000 in a matter of an hour, breaking through resistance at $4,200 and skyrocketing toward $5,000 where it is currently ranging. The powerful move took the…

Read Full Story : NewsBTC

2019-04-16 20:00:40

What do you think?

0 points
Upvote Downvote

Written by Newsbtc

How You Can Help Repair the Notre-Dame with BTC

Bitcoin Traders Eye $5,600 As BTC Suddenly Ticks Higher: Can The Rally Continue?