In 4H chart Bitcoin is following currently a falling wedge pattern.
The yellow line is the major support line, I hope it wont break that and it would retrace and start an uptrend soon. Fingers crossed though!
Reasons for BTC downtrend could be?
1. Chinese NEW Year
2. Facebook banning all the ICOs and Bitcoin ads (Though it wont have larger impact but it is...
Please find the updated chart analysis of Bitcoin, I am still bearish on bitcoin until the CME futures expiry on 26th Jan.
Lets see how BTC wants to break out bullish or bearish.
But considering the Total Market Cap and Bitcoin dominance I dont see any huge volume for Bitcoin to be bullish.
PS: I am not your financial advisor and these analysis is only for...
For better understanding I have marked resistance lines in Blue color while the Support lines in Yellow color.
Currently we need to see how the resistance and support holds
My expectation is if it created double top then it has to break the Support line.