Bitcoin On a Reversal Pattern – The four-hour time frame of Bitcoin shows the long term climb as it forms an inverse head and shoulder pattern. Price should test and break past resistance but if it does, bitcoin could be in for a climb that’s the same height as the chart information. Globalxchange.
Global Exchange. The 100 SMA completed a crossover above the 200 SMA to indicate that the path of least resistance is to the upside. On the other hand, the uptrend is more likely to gain traction than to have a reverse pattern. The moving averages are holding as dynamic support and could keep doing so.
The neckline is located at the $4400 mark and a break higher could rail uptrend at $1200 in size. Buyers are in control giving price energy to sustain a climb. Globalexchange. RSI is also on the move up so bitcoin might follow suit while buyers have the upper hand.
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