Bitcoin testing multiple upside resistance levels
Updated
Bitcoin's recent bullish price action is testing multiple converging resistance lines, of which if broken, further upside may be in store, including the 400-day moving average near $8300 in the near term.
Note
In addition, two longer-term asymmetric triangle formations (see yellow area in chart))are developing, and their upper bearish (descending) and lower bullish (ascending) trajectories are pointing to intersect by early October 2018. A false breakout to either side of the triangle could precede a longer more decisive move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.