Bitcoin has been in an upward channel since the beginning of this month.
I believe this to be a bullish indicator. Typically, Bitcoin has blow of tops or consolidation into triangles (usually descending) before price makes a leg lower.
Example:
With price steadily moving up in a channel, it primes traders for a breakout trade. Bitcoins velocity in price action can be extreme.
Example:
My opinion: Safest trade is to hold at least 1 year.
I believe this to be a bullish indicator. Typically, Bitcoin has blow of tops or consolidation into triangles (usually descending) before price makes a leg lower.
Example:
With price steadily moving up in a channel, it primes traders for a breakout trade. Bitcoins velocity in price action can be extreme.
Example:
My opinion: Safest trade is to hold at least 1 year.
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