Bitcoin Analysis

Bitcoin has its second bounce at the level of 18200 in the H4 chart. The price may end up producing a Double Bottom if it makes a breakout at the neck line. If that heppens Bitcoin may make a bullish move in the H4 chart.
 
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Good morning all. Today is another little check up on Bitcoin . I am still holding a long here at this demand zone . We can see the whole picture here in this chart. Do you believe in the power of 3? What I do know is that price is now trading above the 100 moving average, we are moving above the long standing downtrend line, so is the bottom in? With recent troubles around the world Bitcoin has had it's chance to break lower but hasn't. Recent trading volume for Bitcoin futures peaked back above $1 Trillion for September, so hopefully we will see the increase continue. Keep holding for now the next couple of week's could tell a story. GLIYF
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Bitcoin has been traded around 18.5K for quite a while. This is the level where the price may get bullish from. That trend line holds the key for the sellers though. A bullish breakout at that trend line may attract the buyers to go long and push the price towards the upside.
 
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