Morning everybody, i have been very very slack on posting my thoughts and commentary on $BTC over the last months due to real life commitments.
Let's get straight into it. As we can see on the 4h chart, $BTC has been sliding down since the news (or no news?) of cryptocurrency regulation from G20 back on 19 March.
The $BTC slide started from $9.032, consolidated in a bear flag 2 times before reaching a low of $6,543 and currently forming another consolidating bear flag pattern. Over the course of yesterday, however, $BTC has been tightening even more to form a symmetrical triangle. Although the MACD just had a bullish crossover last night, we need to look at the overall picture.
Let's get straight into it. As we can see on the 4h chart, $BTC has been sliding down since the news (or no news?) of cryptocurrency regulation from G20 back on 19 March.
The $BTC slide started from $9.032, consolidated in a bear flag 2 times before reaching a low of $6,543 and currently forming another consolidating bear flag pattern. Over the course of yesterday, however, $BTC has been tightening even more to form a symmetrical triangle. Although the MACD just had a bullish crossover last night, we need to look at the overall picture.