📈 Daily TA: Bitcoin (BTC/USD)

Dear members of LeoFinance and all Blockchain people, happy Bitcoin Day!

Now, I want to comment on the current intraday pullback in the price chart of Bitcoin.

Although Bitcoin has experienced a flash crash (dropping from approximately $52K to $43K), the price chart of BTC/USD has managed to return to the lower line of the Ascending channel (uptrend), in the 1-hour chart (1H): So, from a technical point of view, BTC/USD still remains within the uptrend. Right now, the price is consolidating at the lower line of the channel (support line). That's why it is still too early to say that a trend reversal is starting. Moreover, I think it is highly probable that very soon BTC/USD will resume its journey within the Ascending channel.

To be continued ...

As of the time of writing, one BTC costs $47295,08 on the Coinbase crypto exchange, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

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📈 Daily TA: Bitcoin (BTC/USD) | 07-09-2021