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Bitcoin Price Analysis: Bears Struggle To Gain Momentum

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The most recently formed rising wedge shown in my previous bitcoin price analysis broke to the downside less than 24 hours ago. Despite the bearish break-down there seems to be no real bearish momentum, despite the large selling volume. Price action seems to have formed strong support at POC (Point of Control) around $11,300 and could be the level in which bitcoin price pivots and regains bullish momentum. The newly formed uptrend could propel price levels back towards the yearly high of $13,900.


Bitcoin Price 4 Hour Analysis
BTC 4 Hour

On the 4 Hour bitcoin price analysis chart for BTC we can ...

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