BITCOIN (BTCUSD) –Week 4– More sideways or resuming the uptrend

Bitcoin is in a big weekly bullish trend and we were expecting for a deeper pullback to fuel the next leg up.

Fundamentally the new Secretary of Treasury of the USA Janet Yellen and the President of the ECB Christine Lagarde are showing signs that they would want to regulate the space of cryptocurrencies driving their volatility up in the next period.

Technically, Bitcoin could stay longer in the range highlighted on the chart but the higher probability is to resume the uptrend by breaking the top and reaching new highs.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.