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Bitcoin Price Bullish Wedge Forms Pointing to $11K, Says Trader

From cointelegraph.com

Bitcoin (BTC) price was returning to bullish form on Aug. 19 as markets look to break out from last week’s sideways trading. Bitcoin price builds on $10K support Data from Coin360 revealed Bitcoin challenging $11,000 in morning trading as Monday delivered almost 5% gains. Markets appeared to be reacting to news cryptocurrency exchange Binance was planning to release its own version of Facebook’s Libra digital currency, in what is also a direct response to China’s central bank. At press time, BTC/USD was circling $10,650, capping daily gains of 4.9%, while weekly progress still totalled 5.5% losses. (full story)

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  • Category: Technical Analysis