In this graph you can see the daily behavior of the Bitcoin price since November, 2017. The formation of a symmetrical triangle is seen, which would form a continuation pattern in the case of the triangle breaking, following the arrows of projection.
The price is in a critical area, bouncing off the lower line of the triangle and the lower Bollinger band ($ 7,800), creating the conditions for a possible bullish rally. This hypothesis is strengthened by analyzing the RSI Stochastic indicator (in the lower part) that registers oversold values, looking for the next target of $ 9,500.
The price is in a critical area, bouncing off the lower line of the triangle and the lower Bollinger band ($ 7,800), creating the conditions for a possible bullish rally. This hypothesis is strengthened by analyzing the RSI Stochastic indicator (in the lower part) that registers oversold values, looking for the next target of $ 9,500.