Bitcoin Price Advancing Steadily Towards $370 - Formulating An Atypical Ascending Triangle Pattern
Bitcoin price rose to a high of around $365 earlier today, which is $5 short of yesterday's high. Despite failure to print a higher high today, bitcoin price is still advancing along the new upward sloping trend line that we spotted yesterday. If the market's bulls succeed at sustaining the current buying volume, we can expect the $370 resistance level to be tested within the next 24 hours. Decrescendo Bullish Bursts On The 1 Hour Charts: By examining the 1 hour (BTC/USD) charts from bitstamp (look at the below chart); plotting the 20, 50 and 100 SMMAs and keeping the upward sloping trend....
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