Bitcoin Finally Got Some Bounce, But Wait...

The price of bitcoin finally moved off the 27k support getting above 28k for a hot minute. Today's red candle currently has price back below 28k, but still glad to see we got some green yesterday.

It was a long wait for some kind of movement at all, but I am concerned it is short lived.

Descending Triangle...

Looking at the daily chart above you can see the yellow descending trend line that begins at the highs for the year.

Price basically hit its head on that line before moving lower, leaving a nice upper wick on today's candle.

Descending triangles aren't known to be bullish, but anything can happen.

I will really hoping we'd of seen a push to 29k or so on this last little move up. That isn't looking to strong at the moment.

Posted Using LeoFinance Alpha