Bitcoin prices fell back this weekend, approaching $40,000 after climbing above $42,000. Where is the cryptocurrency headed next? Several market observers offer technical analysis.
“Technical analysis for Bitcoin continues to suggest the formation of an ascending triangle, which carries a bullish bias,” he stated.
“Significant downside volume support sits from $32,000 to $38,000, should the pattern fail,” he continued. “I would expect a breakout or breakdown if either of those support/resistance levels are broken,” said Sifling.
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