bitcoin price prediction 2018
Bitcoin (BTC) is teasing a decent bullish move, having cleared crucial resistance a few hours ago.
The leading cryptocurrency moved past $6,400 earlier today, signaling that bearish exhaustion – as indicated by Tuesday’s spinning bottom candle – is paving way for a corrective rally.
Notably, the positive price action was preceded by a solid defense of the long-term trendline connecting the June low and Aug. 11 low and an upside break of the symmetrical triangle.
As a result, the stage looks set for an upside move. However, caution is still the name of the game, as the bearish moving averages (MAs) could work as hurdles and complicate the recovery.
At press time, BTC is changing hands at $6,450, having clocked a high of $6,490 earlier today, according to Bitfinex data.