This is to provide a bitcoin charts and bitcoin technical analysis update.
Bitcoin prices have broken two key uptrend lines as the above bitcoin charts shows.
And this means the SHORT TERM trend is DOWN now.
While short term there is some potential for a bounce higher, only a rise above 12.5 $ will turn the picture to bullish again.
Key indicators like the MACD and the RSI have turned downs as well, making more downside probable.
As evident in the bitcoin charts above, we have entered times of higher volatility in bitcoin trading.
*** Will bitcoin move higher and exceed the 2011 highs?
or
*** Will bitcoin prices decline to even below 1 $?
Answers to theses question will be tackled in this week’s bitcoin charts analysis updates to subscribers.
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