RATE Group | November fails to impress, what about an action-filled December 2019?
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November fails to impress, what about an action-filled December 2019?

15 Nov November fails to impress, what about an action-filled December 2019?

Posted at 10:07h in Bitcoin News by

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  • Bitcoin continues with the bottom seeking action in readiness for a better show in December.
  • A falling wedge pattern forms to counter the effects of a recently formed death-cross.

Bitcoin is staring into a bottomless pit mid though the month of November. The past two years have seen Bitcoin start to stir movement upwards in November. However, this year Bitcoin seems to be searching for a bottom and is likely to break the historical pattern.

Following the correction from the recent high at $13,839, Bitcoin embarked on a lower high and lower low pattern. Initially, the trend was narrowing towards $10,000. However, the tightening bearish grip saw Bitcoin shift the focus to levels around $7,000.

Towards the end of October, BTC/USD made a surprise return above $10,000. The price rose above $10,500 before reversing towards $9,000. The upsurge was connected to China’s President, Xi Jinping positive remarks regarding blockchain. The Chinese government said that it…

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