Bitcoin fell against the United States Dollar during the trading session on Monday, as traders came back to work. It looks likely that the market could continue to drift a bit lower, but as you can see on the daily chart, I have formed a bullish flag that could happen. If we can break above the downtrend line marked on the chart, that should send this market much higher. The $12,000 level underneath should be massively supportive, and if we can break down below, where I think it’s the beginning of a serious trouble for Bitcoin. Otherwise, we could break out to the upside and go much higher, with a potential target of $30,000 based upon the pole of the flag.
Sourced through Scoop.it from: www.talkmarkets.com