29 Nov Bullish Bitcoin Flag Indicative of Higher Prices, According to Mati Greenspan – BeInCryp…
[ad_1]
Since November 25, the Bitcoin price has increased by slightly more than 13 percent. After trading in a range for a couple of days, it initiated a breakout and moved above its previous trading range.
The breakout presents a sigh of relief for bulls everywhere, since the ongoing decrease from $10,500 in late October has had no retracement whatsoever. Not everyone is on-board with the newfound bullishness, with many calling for a continued bearish market and further price decreases.
While lower time-frames give a bullish outlook, the Bitcoin price is likely to retrace once it reaches longer-term resistance.
Former Senior Market Analyst at eToro Mati Greenspan suggested that, after yesterday’s breakout, the current Bitcoin price setup looks ‘extremely bullish.’
Retest of the neckline with a bullish flag.
Past performance is not an indication of future results but as far as TA goes this setup is extremely 🐂ish. pic.twitter.com/J4WriL8dti
— Mati Greenspan [not trading advice]…
[ad_2]
Source link