Bitcoin (BTC) Bulls Not Prepared To Back Down Just Yet

Bitcoin (BTC) is trading within a falling wedge at a time when the bulls are not prepared to back down. The 15 min chart for BTC/USD shows that attempts to break lower have been followed by traders buying the dips. This is nothing surprising to see considering a lot of traders are still waiting with long positions to capitalize on the upcoming Bakkt launch on September 23, 2019. I for one would be very surprised if the price keeps on surging towards $11,000 as the Bakkt launch nears but sideways movement in anticipation of a breakout is within the realm of high probabilities. I think Bakkt is going to be the catalyst that a lot of traders are going to be looking up to as Bitcoin (BTC)’s savior to help it rally towards a new yearly high. 

For now, there is no denying…

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