Khaosan: It's a Groundhog Day
Here's the latest Bitcoin Price Analysis conducted by Vensen Khaosan. Price is clearly in a transitional phase – and first needs to show us the larger picture before we can commit to a confident trade. We want to see the outcome of the contracting triangle. If the triangle breaks to the downside, we could be in for a long decline. Hopefully, this consolidative price pattern ends up being a transformation into advance – either because sellers grow tired of hitting the support floor, or because the uncertainties associated with tomorrow’s Fed rate hike and month-end Classic(TM)/Unlimited failure pass as expected.
Read more charts and analysis here.