Bitcoin Ready to Breakout? Technically Speaking by Dwight Galusha

Watch for a Bitcoin price move back towards the upper resistance line at about 59,000

Dwight Galusha | December 30, 2021 | SmallCapPower: Bitcoin appears to have successfully retested the recent breakout in the form of a falling wedge (or bull flag) continuation pattern. Watch for a price move back towards the upper resistance line at approximately 59,000 followed by a breakout that would suggest a continuation of the uptrend.

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Bitcoin is a decentralized digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious and pseudonymous Satoshi Nakamoto.

The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms do, and unlike government-issued currencies, it is operated by a decentralized authority.

Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com

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