Cryptocurrency
Crucial Bearish Factor That Haunted Bitcoin Since $5ks Was Just Invalidated
As reported by NewsBTC, “A reoccurring theme in many Bitcoin analyses over the past few weeks has been mentions of a ‘rising wedge.’ “For those unaware, a rising wedge is a common chart pattern marked by a strong uptrend. Although this uptrend may seem bullish from a top-down perspective, rising wedges are textbook reversal patterns… “…Ever […]
As reported by NewsBTC, “A reoccurring theme in many Bitcoin analyses over the past few weeks has been mentions of a ‘rising wedge.’
“For those unaware, a rising wedge is a common chart pattern marked by a strong uptrend. Although this uptrend may seem bullish from a top-down perspective, rising wedges are textbook reversal patterns…
“…Ever since Bitcoin started to form an uptrend in the wake of the mid-March crash to $3,700, analysts have asserted that the asset is forming a textbook rising wedge, likening BTC’s chart to classic rising wedges…
“…But amidst the surge that transpired on April 29th, Bitcoin invalidated this bearish factor, only adding fuel to the cryptocurrency bull case.