The most recently formed rising wedge shown in my previous bitcoin price analysis broke to the downside less than 24 hours ago. Despite the bearish break-down there seems to be no real bearish momentum, despite the large selling volume. Price action seems to have formed strong support at POC (Point of Control) around $11,300 and could be the level in which bitcoin price pivots and regains bullish momentum. The newly formed uptrend could propel priceRead MoreThe post Bitcoin Price Analysis: Bears Struggle To Gain Momentum appeared first on Bitcoinist.com.
