10 Jan '16, 6am

Bitcoin

Bitcoin

Let’s look at the Daily timeframe chart via the data feed from Bitstamp. There is a contracting triangle pattern formed on the daily chart, which may act as a mover for the next leg. We can see this pattern as a consolidating pattern after the recent surge. The price below closing the week traded just around the triangle resistance trend line. If buyers manage to take the price above the triangle resistance trend line, then a move towards the last swing high of $479 is possible. In that situation, there is a chance that the price may move towards the all-important $500 level as well.

Full article: http://www.newsbtc.com/2016/01/10/bitcoin-price-weekly-an...

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