Just read $6,550: Bitcoin Charts Suggest New Target for Price Rally

$6,550: Bitcoin Charts Suggest New Target for Price Rally

The corrective rally in bitcoin (BTC) could gather momentum if key resistance above $6,500 is crossed on the back of high volumes, according to technical charts. The leading cryptocurrency witnessed a symmetrical triangle breakout last week, opening doors for a stronger corrective rally towards $6,800–$7,000. That said, the corrective move could resume if the cryptocurrency sees a high volume bullish break from the three-day long narrowing price range. 4-hour chartAs can be seen, BTC has charted a narrowing price range over the weekend. On the other hand, a break below $6,380 (lower end of the narrowing price range) would signal an end of the corrective rally.

Read the full article at coindesk

Wednesday, September 19, 2018