Bitcoin formation still holding strong

Bitcoin formation still holding strong

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


This pitchfork formation in place since July has been the key support/resistance for btc . Back at the end of August as we finally saw a break of the key trend line (pink) & a break through the 100DMA, we’d have expected a more persistent follow through, but the median line came in as strong support and that entire move was reversed swiftly.
And now we’re back to the top slope, and stuck between a medley of averages (20,50,100). The range is tight and a break is imminent either back towards the median line or finally out of this formation and back towards the long-term 50% fib retrace