Bitcoin: Bulls Are Still In Control (November 2019)
- 5 years ago
Bitcoin: Bulls Are Still In Control (November 2019)
The price of Bitcoin has once again entered the grey area on our 4H chart for BTC/USD despite a short-lived crashed yesterday that made investors fearful. The Fear and Greed Index dropped further but the near term bullish outlook of the market has not changed much. In fact, the 4H chart shows the price trading within an ascending triangle that might soon lead to a massive breakout now that it has already broken out of the falling wedge and found support on top of it. This potential bullish breakout has a lot to do with the near term outlook of EUR/USD which despite a recent crash has held firmly above the 200 moving average on the 4H time frame.
The price of Bitcoin has once again entered the grey area on our 4H chart for BTC/USD despite a short-lived crashed yesterday that made investors fearful. The Fear and Greed Index dropped further but the near term bullish outlook of the market has not changed much. In fact, the 4H chart shows the price trading within an ascending triangle that might soon lead to a massive breakout now that it has already broken out of the falling wedge and found support on top of it. This potential bullish breakout has a lot to do with the near term outlook of EUR/USD which despite a recent crash has held firmly above the 200 moving average on the 4H time frame.