BTCUSD Consolidates around $2,700~$2,800 Upward Triangle Forming
Thursday, August 3rd 2017 0409 GMT BTC is sitting near $2,700 again, price action has undulated within the range, continuing slightly upward to form a upward triangle. A break in either trend line should be seen as a move away from this as the anticipated push for $3,000 could be coming up.
Whilst contrary to the general bullish sentiment of Bitcoin market participants, the recent UAHF fork has seen BitCoin Cash BCH appreciate rapidly initially to $700, then as speculative trade took profit it fell and now sits at near to $500.
What the true fair values of the two are likely to be, past the split - whilst taking in consideration the Dollars current record breaking 14 week loosing streak is unclear currently.
Levels To Watch
Triangle Top: $2,950
100 MA: $2,600
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