Bitcoin has formed lower highs and higher lows to trade inside a symmetrical triangle pattern on the daily time frame. Price has once again been rejected at the triangle resistance, so it might be setting its sights back on support. The 100 SMA is below the longer-term 200 SMA on this daily time frame to indicate that the path of least resistance is to the downside. This confirms that resistance is more likely to hold than to break or that support is more likely to break than to hold. However, the 100 SMA lines up with the triangle bottom around the $3,800 level to add to its strength as support. Still, a break below ... (full story)