#Bitcoin (#BTC) Price Watch: Major Consolidation Break!

Bitcoin price recently broke to the upside of its consolidation visible on the 1-hour time frame. This could be indicative of further gains in the cards, although oscillators suggest a slowdown in bullish momentum. The strong upside break is being attributed to the looming SEC deadline for some bitcoin ETFs on August 23. Bitcoin price made a sharp upside break from its short-term consolidation to signal that further rallies are in the cards. The 100 SMA recently crossed above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This means that the rally is more likely to gain traction than to retreat from here. Price also moved past the moving averages’ dynamic inflection points that could continue to hold as support.The consolidation spans $5,800 to around $6,600 so the resulting climb could be at least $800 tall. RSI is already indicating overbought conditions, though, so buyers taking a break could invite sellers to take over. Stochastic has some room to rise before hitting overbought levels but is nearing the area, too.


#Bitcoin #BTC

#bitcoin #BTC


Featured Posts
Recent Posts

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

© 2018 by TheCryptoCoinCenter.com  - email  us: TheCryptoCoinCenter@gmail.com

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square