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Bitcoin preparing for a big move?

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Bitcoin reached its all-time high on December 17, 2017, touching $19,700 and closing in the $19,000 range, depending on which exchange you reference. The bull run leading up to that all-time high more than tripled the value of the crypto currency from its low on November 12 of $5,600.

Since that run, we've seen a lot of big swings, but it's really just sideways consolidation compared to the massive bull run.

Transfer 9/1 for 9/2/04-14jan18-bitcoin-jpg

That sideways consolidation of lower highs and higher lows is starting to form a nice pennant shape. If the price action stays in the channel, we could expect it to settle around $14,300 and then breakout to one direction around the end of the month. With this being a bull pennant, the breakout is more often than not to the upside. We will see.

Brad

My referral links:

Hashflare cloud mining
Bitconnect for loaning coins to accrue daily interest
Binance, an exchange to buy and sell coins
Crypterra cloud mining


The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the coins mentioned herein based on this information. We may trade these coins differently than discussed above. We use additional methods and strategies to determine fund position.

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