MEDIUM TERM $BTC ANALYSIS
Bitcoin has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The price has reacted back after a false break of the double top formation. A significant penetration of 57403 will again give new negative signals to the currency, while a break of the opposite side of the formation will be a strong positive signal. The currency has marginally broken up through resistance at points 57000. An established break predicts a further rise. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed
as technically neutral for the medium long term.
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