Bitcoin could drop quickly to increase the volatility and complete the inverse H&S pattern
BTC/USD 60 min
Bitcoin stalled at $11,500, as we foresaw yesterday, and it seems set to take a break before a serious attempt to break the resistance. The price is surrounded by important trendlines and a confluence of short-term and exponential long-term moving averages.
The moving average profile is manifestly upwards and the lines seem to converge at around $11,200. When lines converge, it is very common for daily price ranges to compress, as Bitcoin seems to be willing to do today.
Sourced through Scoop.it from: www.fxstreet.com