Why This Technical Analyst Says the Bitcoin Price Rally isn’t Over Yet

Why This Technical Analyst Says the Bitcoin Price Rally isn’t Over Yet

11/02/2019 Off By currncy

The bitcoin price on Monday showed no significant movements after posting an impressive rally early Friday. That doesn’t mean the flagship cryptocurrency’s rally is over, however. As of the time of writing, the bitcoin-to-dollar exchange rate (BTC/USD) was trading at $3,598, up 0.05 percent since the Asian session open. The pair consolidated sideways ahead of the US trading hours inside a narrow – and a rather weak – downward channel. From a broader perspective, this channel gave a hint of a near-term bull flag formation. Bitcoin’s Bull Flag – and What it Means Technically, a bull flag formation is a

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