Bitcoin Could Get Cut In Half From Current Levels (BTC)

Share This Article
June 12, 2018 6:07am CURRENCY:BTC

From Chris Kimble: The Bitcoin trend remains up as it has spent the majority of the past 5-years inside of rising channel (1) in the chart below.

Nothing of late has changed this long-term trend.


Over the past 6-months, Bitcoin could be creating a “Bearish Descending Triangle” at (2), with support coming into play along line (3). Weakness of late has it testing line (3) for the third time in the past four months. Do not forget that “support is support until broken!”

If support line (3) would happen to fail, the descending triangle measured move suggests that Bitcoin could head towards line (4), which is near the bottom of rising channel (1), which comes into play around the $2,000 level.

As mentioned above, the trend on bitcoin remains up and it is testing support right now that has held two other times in the past four months.

The Power of the Pattern suggests that the current support test is big time important for Bitcoin bulls!

This article is brought to you courtesy of Kimble Charting Solutions.

9 "Must Own" Growth Stocks For 2019

Read Next

Get Free Updates

Join over 50,000 investors who get the latest news from!

Most Popular

Explore More from

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again! respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories