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Blackreplica

BTC/USD narrow rising channel coming up to 55 EMA

Bitcoin (BITSTAMP:BTCUSD)  
Blackreplica Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Chart Patterns
3
0
trendanalysis chartpattern
Price is moving along a slightly narrowing channel up to the 55 day EMA, hoping to breach it on the 3rd atttempt. A successful breach is bullish but a drop below the channel may mean a short/medium term top with downside up to about 7500 in the near term
Comment:
unfortunately we have broken downwards. I dont see much support until approximately 7500-7600. Failing for the third time to break the 55 EMA does not bode well in the medium term
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