Bitcoin Price Technical Analysis for 10/07/2016 – Small Triangle Pattern

Bitcoin price is moving inside a tiny triangle consolidation pattern but may be due for a breakout sooner or later.
Bitcoin Price Key Highlights Bitcoin price has formed lower highs and found support around $607.50, creating a descending triangle visible on its short-term time frames. Price seems to have gotten rejected at the resistance and is on its way towards testing support once more. Technical indicators are suggesting that a bounce off the area of interest could be seen. Bitcoin price is moving inside a tiny triangle consolidation pattern but may be due for a breakout sooner or later.

This post was published at NewsBTC on October 7, 2016.

Comments are closed.