A look at the long term chart of Bticoin
BTCUSD
makes me think we are in a larger triangle that will cause Bitcoin to break-out from before the end of September. This seems like a normal and needed cooling-down movement after the decisive break from the previous bear market. Also, it needs some time for the MA200 to play catch up with the price of Bitcoin, for it is slightly extended.
With the increasing institutional interest in Bitcoin and its applications, I think any break-out in September will most likely be to the upside, immediately targeting previous highs of $ 19,000.
I have a position in Bitcoin via the listing on the Nordic NASDAQ in Sweden, called ETF Bitcoin XBTE Bitcoin Tracker EUR XBT Provider, or Bitcoin TrackerOne with ISIN-code SE0007525332. More info on xbtprovider.com/ or via your broker or bank. This is not an investment advice.
BTCUSD
makes me think we are in a larger triangle that will cause Bitcoin to break-out from before the end of September. This seems like a normal and needed cooling-down movement after the decisive break from the previous bear market. Also, it needs some time for the MA200 to play catch up with the price of Bitcoin, for it is slightly extended. With the increasing institutional interest in Bitcoin and its applications, I think any break-out in September will most likely be to the upside, immediately targeting previous highs of $ 19,000.
I have a position in Bitcoin via the listing on the Nordic NASDAQ in Sweden, called ETF Bitcoin XBTE Bitcoin Tracker EUR XBT Provider, or Bitcoin TrackerOne with ISIN-code SE0007525332. More info on xbtprovider.com/ or via your broker or bank. This is not an investment advice.