Since the peak in late 2017, Bitcoin has seen an epic collapse and a significant shift in sentiment. The price chart as been stuck in a descending triangle for the last 15 months, unable to breach the downward trendline – until today. It’s early, and we could see a retest of the trendline before any significant momentum higher, but in the near term I would set $5200 as a likely price target and initial area of resistance.
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Paperback: 128 pages
Author: Shelley Allen, M.A.Ed.
Publisher: Fibonacci Inc.; 1st edition (2019)