Bitcoin Battles to Breakout of Descending Channel! by scaredycatguide

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cryptocurrency · @scaredycatguide · Mar 1 '18

$53.77

Bitcoin Battles to Breakout of Descending Channel!

At this point we know it well.  The descending channel that bitcoin has been in since December 2017.  

It has trended us town the past three months - has its time come???

## Bitcoin Battles to Breakout

As today's daily candle closes, we find bitcoin sitting right at the top line of the descending channel.  This occurs just days after it failed to breach it.

The good news is we only saw a small pullback before testing it again now.  In past cases we had already made quite the move of the lows of the channel.

Maybe this time BTC has a little more pep to bust through.  We shall see in the next couple days?

We need to see BTC above 11,200 and then ideally get to 12k.  That would be the price action needed to kiss that descending channel goodbye finally!

I explain that and more in the video below:


<iframe width="560" height="315" src="https://www.youtube.com/embed/5z4HodQSR-s" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>



#### <center>Need to learn the basics about bitcoin, the blockchain and wallets?  
Free e-book: [ScaredyCatGuide to Knowing What the Heck Bitcoin Is](https://scaredycatguide.com/scaredycatguide-to-bitcoin/)</center>
___
<center>![steemittags.JPG](https://steemitimages.com/DQmWtucb9z95znZ6jWgBBFJJoth1UiskdAcbJWWWrJ5zPKX/steemittags.JPG)</center>

Best Regards, 
![600x150EmailHeader.jpg](https://steemitimages.com/DQmQWhzGLmeC7RCJohAuhCmxyD7w5HqUXfHPbR4Ui1HRjBs/600x150EmailHeader.jpg)

Disclaimer:  All info in this post is my opinion and for educational use.

👍 reggaemuffin, coral-reef, shenanigans, alexis555, stiflers-mom, buddhist, carrinm, evanrvoss, msp-waves, brandonp, inquiringtimes, getonthetrain, scaredycatguide, teamsteem, gringalicious, msp-shanehug, kaylinart, msp-lovebot, cryptobarry, furious-one, cristi, forexbrokr, jasonstaggers, choogirl, gonzo, swelker101, ma1neevent, isaria, steembusiness, msp-active, bulleth, masteranibal, uniwhisp, mitchelljaworski, vachemorte, sc-steemit, thecryptofiend, steemprentice, negativer, scooter77, anarcho-andrei, mdees1, crimsonclad, builderofcastles, minnowuniversity, freemoceanisnow, extremedistaste, discordiant, jschindler, crypticus, lexiconical, cryptoskate, jcoins79, realestatecoach, the.human.union, coincussion, stephmckenzie, jpederson96, buckydurddle, moisesmcardona, moisesguzman, claycoughlan, rollandthomas, btc-ben, and 10 others

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@andreina89 · Mar 2 '18

Very good and interesting information friend excellent graphics very good post thanks for sharing is a great contribution for the community greetings

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@brandonp · Mar 2 '18

$1.19

Hopefully it breaks out.  I have a feeling that if Bitcoin can make a strong push upwards, the alt-coins will follow suit, aka great things for Steem, which is what I care about!

👍 brandonp, nancy2001

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@cryptoskate · Mar 2 '18 (edited)

@scaredycatquide thanks for the insight let see if it will break out this time. I still expect one time pullback before the big move.

👍 cryptoskate

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@diogosantos · Mar 2 '18

It is a hard battle and even if we don´t break out this week, the next month looks promising, for now is very important to consolidate BTC price, so that way we avoid unfortunate comments talking about the enormous volatility.

I think a lot of people already regretted for not buying below $8K and even worst for those who sold their coins in panic.

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@scaredycatguide · Mar 2 '18

Yeah, 8k was an opportunity

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@inquiringtimes · Mar 2 '18

I'm on the edge of my seat!

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@luiggih · Mar 2 '18

https://s3.amazonaws.com/tradingview/snapshots/b/br8VRt90.png
overall bitcoin looking bullish

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@mdees1 · Mar 2 '18

the lack of volume so far is a bit of a worry don't you think?
some are saying the 11k break was crucial but i personally agree with your 11200 line, i then have 11800

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@moisesguzman · Mar 2 '18 (edited)

Excellent information friend had already a few days without knowing about Bitcoin, I follow you to continue knowing about the day to day of this currency. Greetings @scaredycatguide

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@realestatecoach · Mar 2 '18

$0.12

Month's from now this small time of stabilizing will look like a blip in the chart.  I fully expect to see above 13k again as Bitcoin continues to gain adoption and receives more testing on the testnet.  I'm doing my best not to trade but just wait till it makes another big move upwards.

👍 realestatecoach

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@scaredycatguide · Mar 2 '18

Yep, I just position trade.  Which means, sell some on quick spikes and add on hard dips all while holding a core position.  Has worked quite well.  
P.S. - like your username.  Real Estate is my mine investment and what my scaredycatguide website is all about.

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@rollandthomas · Mar 2 '18

We have some sellers at $11700, but once price absorbs those orders, we should break $12000, then buy on a pull back in route to $17000.

![](https://steemitimages.com/DQmfHezMvKBWw1vKMTzRdxr2rcsWoZMVCvyL1ZtFaGifFrs/image.png)

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