Bitcoin Shows Signs of Stalling After Reaching Descending Resistance

Share Article
In Brief
  • The Bitcoin price has broken out from a descending channel.

  • There is strong support at $9,300.

  • The price is following a short-term ascending support line.

  • promo

    Free Cloud Mining Providers to Mine Bitcoin in 2021

The Trust Project is an international consortium of news organizations building standards of transparency.
On July 8, the Bitcoin (BTC) price broke out from a descending channel that had been in place since June 1. However, the price has stalled around the breakout level, raising concerns for the possibility that the breakout was not legitimate and the price will soon reverse its trend. Bitcoin Channel Breakout The Bitcoin price had been trading inside a descending channel since it reached
×

BeInCrypto Premium - Register for FREE now.

BeInCrypto Premium - Register for FREE now.

Upgrade to continue reading

Register Now!
Sponsored
Share Article

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.

Follow Author

Crypto predictions with the Best Telegram Signal with +70% accuracy!

Join now

Free Cloud Mining Providers to Mine Bitcoin in 2021

Go

How To Mine Cryptocurrency: Beginner’s Guide

Let's Go