Bitcoin Price Pop And Fizzle
Bitcoin price pushed through an important trendline intersection yesterday but launchpad staff had failed to fuel the tanks. A pop and fizzle is all we got. Traders can sheath their arrows until the next chart signal.
Bitcoin Price Analysis
Time of analysis: 15h00 UTC
From the analysis pages of xbt.social, earlier today:
The halving event had created a sense of optimism that price would rally, and when price pushed above a upside constraining trendline, yesterday, it seemed a new wave to the previous high would erupt. However, all the market could manage was a fake-out to the upside.
The chart technicals were bullish yesterday, but have now lost strength and the outlook, therefore, is for ongoing consolidation.
This post was published at Crypto Coins News on 13/07/2016.