Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Just like predicted last week when the price of BTC was forming a top at the upper boundary of the formed ascending channel , the price dropped all the way down till $40k area of support of the illustrated channel. Now, some patience is needed, as before jumping or dropping, beginning to impulse, the price always consolidates for a bit and forms a top/bottom pattern. We are expecting for the price to drop a little bit below the area of support, complete the “liquidation phase”, and form a valid bottom before it can continue growing and reach the top barrier of the ascending channel .
