Bitcoin Price Holds Rising Channel

Bitcoin Price Holds Rising Channel

Bitcoin price has returned to $450 after retesting this week’s low. Local support is holding and the market has, so far, avoided additional lows. Price fell back to Tuesday’s lows, overnight, but snapped back to the vicinity of $450 during today’s trade. Despite the rejection from upside resistance, price remains in an upward trajectory, as illustrated by the rising channel lines annotated in grey. Since the late-April low, the price chart has printed a series of higher lows. The potential decline targets described in this week’s previous analysis posts, will only become applicable if....


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