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BTCUSD – Bullish Engulfing Pattern Above $19700
Bitcoin continues its bullish momentum this week as the price is moving upside now trading above the $20000 handle in the European Trading session.
We can see a continued consolidation in the levels of Bitcoin after every decline and the prices are now gaining a bullish traction ahead of the US Trading session.
The long-term investors are coming back into the markets as the demands for Bitcoin are increasing due to the increase in global inflation rates.
We can clearly see a Bullish Engulfing Pattern Above the $19700 handle which is a Bullish reversal pattern because it signifies the end of a Downtrend and a shift towards an Uptrend....More info: blog FXOpen
