Bitcoin Finally Breaks Out, Aiming for Range High

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In Brief
  • The Bitcoin price has broken out from a short-term descending resistance line.

  • There is resistance at $9,650 and $9,820.

  • The price is trading inside a longer-term descending wedge.

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On June 21, the Bitcoin (BTC) price broke out from a descending resistance line that had been in place since July 16. This opens the way for an increase that could carry the price upwards of $9,600. The Bitcoin price had been following a descending resistance line since June 16. The price decreased at the rate predicted by the line, which was also strengthened by the presence of the 200-hour

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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