Bitcoin Stalls After Steep Upward Move

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In Brief
  • -The Bitcoin rally stalled on July 28.

  • -The trend has generated short-term weakness.

  • -The price is either trading in, or has broken out from, a symmetrical triangle.

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On July 27, the Bitcoin (BTC) price reached a high of $11,394 after a massive rally. However, the upward move has stalled and the price has been gradually decreasing since. On July 27, the Bitcoin price created a bullish engulfing candlestick, causing the price to reach a high of $11,394, breaking out from the previous long-term resistance area. Bitcoin Still Cautiously

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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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