Mar 3, 2020
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Bitcoin Price in Bullish Accumulation, Analyst Suggests $6500 is Part of the Plan

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bitcoin accumulation pattern

Bitcoin [BTC] price turned bullish again on Monday, after fairly negative weekend. However, it’s failure to break above $9000 with a reversal candle on short term suggests that indecision still lingers in the market.

The volume of the buying action is also on the lower side. On the 4-hour chart, the 50-period EMA (Exponential Moving Average) is acting as resistance at the moment. The bottom of the range is around $8421.

bitcoin four hour chart
BTC/USD 4-Hour Chart on Bitstamp (TradingView)


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