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Bitcoin edging ever closer to a potential break below double bottom
Since the last update here on Bitcoin the lead cryptocurrency has failed to make any headway back above 94k after a rise to set a new high on the day, at 94,102 failed to extend and now it looks like threatening the noted double bottom, in place on the daily charts, at 92,143 and 92,149. The low seen so far has been set at 92,451 and if you look at a chart of the price action you will see it has rather dropped off a cliff over the past hour. The risk of a further relapse below that double bottom looks live right now and that is price point to be aware of this afternoon. Bitcoin is currently trading at 92,605
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