Analysis

When we look at the chart below, we can observe that Bitcoin(BTC)trade is trading at $7,120. It can also be seen that that price is stuck within the channel. The upper limit is at $7,218, confirmed by the formation of an evening star pattern, and is also acting as resistance; and $7,053 is acting as support. The world’s largest cryptocurrency’s price is expected to trade inside the channel for some time. Dow Theory The Bitcoin…

When looking at the chart below we can see that Bitcoin(BTC)trade is trading at $7,300. The largest cryptocurrency by market capitalization is trading within the channel with $7,600 acting as resistance and as the channel upper limit, and $7,190 is acting as support and as the channel lower limit. The lower limit is confirmed by the formation of a morning star pattern and the upper limit is confirmed by the formation of a piercing pattern….

When looking at the chart below, we can see that Bitcoin(BTC)trade is currently trading at $8,792. It can also be observed that the largest cryptocurrency’s price is back into the channel with an upper limit at $8,875 acting as resistance and the lower limit at $8,689 acting as support. Additionally, there is a formation of shooting star pattern which indicates that the price might touch the lower limit. Dow Theory Bitcoin is currently appearing in…

When looking at the chart below we see that Bitcoin(BTC)trade is currently trading at $9,357. It can also be observed that the largest cryptocurrency has recently broken the resistance of $8,650 with good volume, turning the sentiments positive. But after the uptrend, Bitcoin’s price seems to be entering the channel with resistance at $9,510 and support at $9,264, as the price might continue trending sideways for a short while. Currently the price is moving towards…