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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Bitcoin continues to move sideways, but soon this will stop.

Bitcoin has formed a short-term triangle pattern as price is moving mostly sideways inside a tightening range for the last few sessions. Price is trapped between $37,000 and $33,000. Price could continue moving sideways for a couple of more days but eventually we will see a break out and a strong move.


Red line - support

Blue line - resistance

Bitcoin as can be seen in the 4 hour chart above, is moving mostly sideways since June 28th. Price has now resistance at $35,500 and support at $33,000. Breaking either of the triangle boundaries will give an important trading signal. Breaking above the blue resistance trend line will open the way for a test of the major resistance at $41,000. Breaking below the red support trend line will open the way for a move towards $30,000 and lower.

The material has been provided by InstaForex Company -