Čvc 24

Bitcoin Price To Hit $42000 In 2019; $356,000 By 2021: Pantera Capital

Bitcoin price action could hit a massive $42,000 figure by the end of this year, the CEO of crypto investment firm and hedge fund Pantera Capital thinks. 

Bitcoin Price Trend Line Can Lead To Huge Gains

Speaking on the latest episode of the Unchained Podcast on July 23, Dan Morehead said that the firm was sticking by its trusted Bitcoin price analysis to determine future performance.

This, he confirmed, includes the possibility of BTC/USD hitting $356,000 in 2021 if its historical compound annual growth rate persists.

At the bottom of the 2018 bear market, when Bitcoin traded at $3100, Pantera considered what growth would be if the price returned to its historical trend line and then kept up that performance in future years.

“That put Bitcoin at $42,000 at the end of 2019, which I know sounds crazy, but essentially we’re halfway back there,” Morehead said.

“It’s right on the trend line, and I think it’s a good shot that by the end of the year, we hit that, and then if you just extrapolate that line out for another year, it’s $122,000 per Bitcoin and in one more year $356,000[.]”

Morehead: Markets Will Accept ‘Crazy’ Price Increases

Bitcoin’s volatile last few weeks has concerned analysts who were already considering where the three-month-long bull market which began in April would end. 

Currently trading under $9800, Bitcoin is now 30% below its recent highs of $13,800, challenging even other, less optimistic, prediction models which put it at $21,000 by the end of the year. 

As Bitcoinist noted, $9800 support is all that stopped markets from falling further this week, as traders nurse 11% monthly losses.

For Morehead, however, the psychology behind bigger numbers for the Bitcoin price has already proven its nature. 

“…($42,000, $122,000 and $356,000) sound crazy, but (in) our first research piece that we wrote on Bitcoin, we predicted it would go to $5000, and when it was at 100 bucks, everyone thought that was totally nuts, but these numbers, in 2 or 3 years, people look back and go, oh yeah, that makes sense,” he continued.

Similar logic could lend weight to some of the boldest Bitcoin price forecasts still on the market, including John McAfee’s infamous $1 million bet with himself. 

Others, such as investor Tim Draper’s $250,000 price tag by 2023, also ensure Morehead is not alone in his bullish outlook.

What do you think about Pantera Capital CEO’s Bitcoin price predictions? Let us know in the comments below!

Image via Shutterstock

The Rundown

Čvc 09

Bitcoin Price Rallies Towards $13,000 In Sudden 11% Surge

Just yesterday the Bitcoin price sentiment was starting to turn bearish as markets began to cool off. Many of the top analysts on crypto twitter had hinted at further losses as BTC posted lower highs. Today it has surged back in an epic 11% pump back towards $13,000.

Bitcoin Price Bears Bashed Again

BTC had been consolidating around $11,500 since recovering from its dip into four figures early last week. That range bound action finally broke during early Asian trading this morning when Bitcoin price broke through resistance and traded north of $12,000.

The king of crypto did not stay there and made a big push up to a new 13 day high of $12,880 according to Tradingview. It is the highest price Bitcoin has attained since June 27 when it slid down from that peak just $900 higher.


BTC price 1 hour chart – Tradingview.com

A new 2019 high could be imminent if Bitcoin price can close above the previous two daily candles at $12,950. Trader and analyst Josh Rager, who said yesterday’s weekly close was bearish, has changed his tune today as BTC continues to defy the markets.

“With lower-highs on the 4 hr chart, I’d look to lean bearish as we start the week”

“Fool me once, shame on you… Fool me twice, shame on me. No way was I shorting Bitcoin after a close under the resistance again. Not much stopping this train, just minor daily & weekly resistance left until new yearly highs.”

Altcoin Annihilation

Rager continued to comment on Bitcoin dominance which was approaching 67% at the time of writing.

“Bitcoin Dominance on its way above 66%. This is why you always keep a healthy percentage of your portfolio in Bitcoin especially in a bull market.”

It is the highest market share Bitcoin has had since December 2017 and those predominantly holding altcoins will be in a world of pain at the moment. Of the $26 billion that has entered the crypto markets over the past 24 hours, BTC is responsible for almost 85% of it.

The top three crypto assets after Bitcoin have not even gained 3 percent each. Even Litecoin, which is halving in just 27 days, has only managed a blip to get above $123. There are a number in the red at the moment including BNB, TRX, ADA, XMR, LEO, LINK and ATOM.

Many of those interviewed at the Taipei Blockchain event (link to Taipei article) were confident that altcoins would rally again soon but at the moment they are getting buried by their big brother. A new 2019 high could be imminent for BTC this week and after today’s move, all eyes are on $14,000.

Will Bitcoin price break resistance to hit a new yearly high? Add your thoughts below.

The Rundown

Čvc 05

Bitcoin Market Grew ‘Independently’ in Q2 2019: Binance Report

Correlation between the Bitcoin market and the altcoin market dipped in the second quarter of 2019, claims Binance.

The Malta-based cryptocurrency exchange pitted Bitcoin against thirty alternative cryptocurrencies to determine whether or not it moved in lockstep with them. The exchange noted that all the known altcoins were tailing the Bitcoin price trend positively in Q2/2019. Nevertheless, the speed at which they followed the leading cryptocurrency experienced a drop, implying that the altcoin market, as a whole, failed to run along with a supercharged Bitcoin price rally.

“Bitcoin (BTC) became less correlated with other crypto assets in Q2 2019 relative to the first three months of 2019,” read Binance. “Correlations declined between Bitcoin and altcoins, with a decrease in the average correlation of -0.11.”

In retrospective, a perfect positive correlation between two assets reflects their 100% probability of moving in the same direction. Conversely, a negative one means that the two would always run in the opposite direction. Assets with a correlation score above 0.5 show positive correlations between the two, while a score below -0.5 exhibits negative associations.

bitcoin, bitcoin price

Bitcoin Dips against Altcoins in Terms of Correlation | Image Credits: Binance Research

Binance noted that Ethereum came closest to Bitcoin with a 0.81 positive correlation in Q2/2019, down from 0.889 of the previous quarter. Similarly, the XRP-to-Bitcoin correlation dropped from 0.875 in Q2/2019 to 0.69 in Q1/2019. The statistics appeared the same across the rest of the cryptocurrencies, including Litecoin, MIOTA, EOS, Bitcoin Cash, Bitcoin SV, and others.

Flight to Quality

The said dip appeared in line with the Bitcoin’s growing dominance in the cryptocurrency market. The leading cryptocurrency mousetrapped more than 63 percent of the total market valuation, leaving other digital assets with a fractional influence. Binance called it a “flight-to-quality behavior,” a term which indicates investors’ partiality towards what they believe is the most bullish asset. Excerpts from the report:

“The overall market capitalization rose by 139%, whereas altcoin aggregated market capitalization (including stablecoins) increased by “just” 71 percent over the same period. This can likely be attributed to a “flight-to-quality” behavior by crypto investors in an early bull-market state.”

The statistics closely followed the findings of Gabor Gurbacs of VanEck. The digital asset director noted that Bitcoin had left all the blue chips (a basket of top ten cryptocurrencies) and smaller cap coins (another pool of top 100 cryptocurrencies) behind in the previous 12 months in terms of returns, as shown in his tweet below:

Although the Blue Chips (Ticker: MVDA10) recorded a lesser loss compared to the Small Caps (Ticker: MVDASC), a closer look reveals that Bitcoin had more than 33 percent dominance in the former.

Bitcoin Remains the King Cryptocurrency

The Binance report reflected a shift in crypto investors’ mindset. They considered Bitcoin safer than most of the alternatives available inside — and also outside — the cryptocurrency industry.

“The report could help in assessing whether today’s crypto-market environment behaves similarly to historical early stages of bullish environments in traditional financial markets,” Binance concluded.

What do you think about Bitcoin’s YTD performance? Let us know in the comments below.

Images via Shutterstock, Binance Research, Gabor Gurbacs

The Rundown

Čvc 04

Bitcoin Price Approaching $12000 Again As Dominance Hits 65%

The recent Bitcoin price correction was over before it really began. A five-day slide culminating in a short-lived 30% dip below $10000 saw a huge bounce back by over 20% as BTC surged back above $11000. It’s market dominance is now heading towards highs not seen since 2017.

Bitcoin Dominance Hits 65%

Bitcoin price has continued to push higher since it topped $11000, 24 hours ago. There was clearly huge buying pressure at four figures and some have suggested that BTC may never fall that low again. The gradual crank higher has taken Bitcoin price to $12000 again during the morning’s Asian trading session. It is now exactly 25% higher than the dip on Tuesday.


BTC price 1-hour candles. Tradingview.com

A few hours ago one big green candle lifted Bitcoin price back above the 200 moving average on the hourly chart. It has pulled back a little and is currently trading at 00. Zooming out to the daily chart still paints a very bullish picture for BTC.

Once again the move has increased Bitcoin market dominance to highs not seen since late 2017. According to trader Josh Rager, it is facing resistance here and altcoins could soon start to react.

“$BTC dominance climbing at 65%. Bitcoin’s dominance hasn’t been above 70% since July 2017 & see this as a definite area w/ possible resistance. Majority of altcoins can continue to retest support until BTC dominance drops (which could happen near these levels) so pay attention.”

The discussion that followed had many thinking that BTC dominance could climb as high as 70% again where it was during the start of the 2017 bull run. This would absolutely obliterate the altcoins, many of which are still wallowing over 80% down from their peaks.

Fellow trader ‘CryptoFibonacci’ has noticed a triple top for bitcoin dominance which could spell a breakout to the upside.

“I’m not a big believer in “triple tops”. It will have to prove me wrong. Be careful if you are in Alts.”

Very few of the altcoins have done anything since Bitcoin’s bounce back. Ethereum is still below $300, XRP has not moved at all from $0.40 and Litecoin is stuck at $120 as the halving FOMO dries up.

Bitcoin is currently the top performing crypto asset in the top twenty with a gain of over 5% on the day. It doesn’t look like slowing down either as fears of Trump induced dollar manipulation to start to fester. The US president tweeted that America should match currency manipulation practices being carried out in China and Europe. Fiat fiddling is all good news for Bitcoin.

Will Bitcoin price hit $13000 this week? Will BTC market dominance hit 70% again? Add your thoughts below.

Čvc 02

Bitcoin Price Will Rally To $100,000: Binance CSO

There is no doubting that the Bitcoin price has been commanding things in crypto markets recently. Even with its current correction of 25%, BTC is still on a roll this year. The king of crypto has done so well that Binance’s Chief Strategy Office thinks it will surge all the way up to $100k.

Bitcoin Price Drops Back To Four Figures

The correction has gathered momentum this week and BTC price made two dips to $9,950 a few hours ago according to Tradingview.com. It is now well below both the 50 and 200 moving averages on the hourly chart and heading towards the 50 on the day chart.

From its high to current prices 00 Bitcoin price has now corrected 25% and looks to drop further. Lower highs and lower lows have confirmed the downtrend in the shorter term and traders will be looking at support levels around those moving averages to start re-accumulating.

The long term picture is still very bullish however and one industry executive thinks $100k Bitcoin price is not too far away. Binance Strategy Officer, Gin Chao, talking to BlockTV said:

“If you look at historical patterns you are probably looking at new highs at least for bitcoin in the $50,000-100,000 range.”

His comments on altcoins are interesting and looking at 2019 performance it would be hard to disagree with him. The majority of altcoins have done very little since their bear market lows in December 2018. A lot of the higher cap coins including XRP, Bitcoin Cash, Cardano, Stellar and Tron are still over 80% down from their all-time highs. Some are even over 90% down still.

Chao added that we are now entering the fourth market cycle for Bitcoin and in previous ones, there was a distinct correlation between the altcoins and BTC. This has not been the case in 2019 when altcoins have been stagnant while Bitcoin has surged.

Altcoin Avalanche

Last month a number of altcoins including XRP, BCH, EOS, Stellar and IOTA actually dumped a fair amount while crypto market capitalization in general increased by 27%. As BTC cools altcoins are freezing over again, many have dumped double digits over the past couple of days as the correction deepens.

Total market capitalization has shrunk by $80 billion since late last week however bitcoin’s share of that remains over 60%. Chao could be on to something as the calls for altseason have so far gone unheard as many of them are still in the depths of their own crypto winters.

Will Bitcoin price rally to $100,000? Add your thoughts in the comments below.

Images courtesy of Shutterstock, BLOCKTV

The Rundown

Čvn 30

Bitcoin Price Consolidates Back Over $12000, Markets Bullish

The long-awaited Bitcoin price correction has failed to materialize yet again as the king of crypto has held on to gains over the weekend. Consolidation around $12000 appears to be forming and the uptrend is still clearly very strong.

Bitcoin Price Back Above $12000

Over the past 24 hours BTC has been slowly grinding higher adding almost 5% on the day. From around $11,500 yesterday Bitcoin price has ticked up over the $12000 barrier to settle at around 00 during the Sunday morning Asian trading session. Daily volume is back down to ~$28 billion and the next high will be critical in determining the next direction for BTC.


BTC price on hour candles – Tradingview.com

Bitcoin price is still down 12% from its peak last week but the big thirty percent correction has been nowhere in sight. Many are now wondering if that was it and a 25% flash crash was all that markets could muster. If this was the case, then the digital asset is still extremely bullish and the next leg up could take it to new highs.

Looking at the weekly chart there is very little resistance from its recent high of $13,800 all the way up to $17000. Even mainstream media has turned bullish on Bitcoin with both Bloomberg and Forbes publishing pro-crypto articles recently. The latter claimed that Bitcoin has been designed for systemic stability, not price stability.

“Bitcoin, by contrast, is a system that prioritizes security over price stability. Bitcoin’s systemic stability stems from the security of its network. This week, as bitcoin’s price volatility was capturing headlines, I was watching core bitcoiners get excited about something else entirely—the network’s hash power hit an all-time high, and its “difficulty” also adjusted to an all-time high.”

Altcoins Remain Lethargic

Very few altcoins can match the performance of Bitcoin price at the moment. BTC market dominance is still at an 18-month high of over 62% even after a 12 percent slide.

Only one altcoin is making any momentum this Sunday and that is Litecoin which has surged almost 14% on the day to reach $132 again. Naturally, LTC was always going to bounce back first since it is now only 36 days to the block halving event. The move has enabled Litecoin to flip BCH again and retake fourth place as market cap tops $8 billion.

The rest of the major altcoins are slow to recover with XRP, BCH, EOS, BNB, BSV, and ADA only managing a couple of percent back from their double-digit dumps over the past few days. Altseason is still eluding crypto traders.

Has Bitcoin price corrected and recovered or will it drop further? Add your thoughts below.

Images courtesy of Tradingview, Shutterstock

The Rundown

Čvn 27

Bitcoin Price Shrugs Off Flash Crash in Return to $13,000

Following its epic pump yesterday, Bitcoin price hit a wall and dumped almost $2,000 in an hour. Many are pointing the finger at exchanges but the bottom line is that BTC has already started to recover and is heading back towards $13,000 again.

Bitcoin Price Closed On $14000 Before Flash Crash

Another new 2019 high was hit a few hours ago when BTC touched $13,860 according to Tradingview.com. The move meant that Bitcoin price had made almost 50% in seven days, epic by anyone’s standards.

What followed was a sharp pullback as a big red candle dumped around $2,000 in just an hour. Bitcoin price hit the 50-hour moving average and instantly headed north again. In industry terms, this is known as a ‘flash crash’, where one massive trigger can induce the dump. It is not a natural element of the market cycle since recoveries are usually instantaneous.


BTC price 1-hour candles – Tradingview.com

Crypto trader Josh Rager has called it a pullback, however, albeit a minor one in comparison to previous thirty percent plus dumps.

“18% pullback on the $BTC day chart. If Bitcoin price pulls down to the mid $10ks… (20+%) I’d consider this a big pullback prior to continuation. At this point in time, I consider Bitcoin extremely bullish. 18% pullback might be the new 30% pullback we’re expecting.”

Since the incident, Bitcoin price returned to $13,330 before settling at the $12,750 level where it appears to be holding, down 8% from yesterday’s high.

Considering the speed of this recovery, it would not be pertinent to call this a correction as they usually last a bit longer than just a couple of hours. What happens next could be crucial though, if BTC powers back over $13000 then the flash crash was exactly that. If the candles begin to break down however and Bitcoin price falls back below $12000 in the next few hours, we could be experiencing a wider scale correction.

30% Pullback Imminent?

A drop of 30% or more from recent highs would send Bitcoin price back to the mid $9,000s where strong support lies. Fellow trader ‘SalsaTekila’ also commented on the pullback and is poised to buy the dip as many others will be.

“I hope to be wrong about a $BTC pullback towards 8400$ area but am hedged and prepared to #BTFD if it happens.”

Travis Kling, chief investment officer at Ikigai Asset Management, is also eyeing a larger pullback. Earlier, just before the flash crash, he tweeted

“Given this price action, now is a good time for a reminder:
BTC is going to pull back. It often does so in savage fashion. There have been 12 pullbacks of >30%. 6 of those have been >70%. Another pullback will undoubtedly occur. Could happen tomorrow. Keep your wits about you.”

Following such an epic surge Bitcoin price could well be gearing up for a dip so be ready when it does.

Will a Bitcoin price pullback occur this week? Add your thoughts below.

Images courtesy of Shutterstock, Tradingview, Josh Rager, SalsaTekila (JUL)

The Rundown

Čvc 26

Bitcoin Price Surge Due to Increased Trading Volume in Asia, Says Experts

A couple of experts have recently provided compelling evidence that shows that the Asian market had a prominent role to play in the recent Bitcoin price surge. Also, the current economic standoff between the United States and China is positively enhancing Bitcoin’s pedigree as a hedge against economic uncertainties.

The Return of the Far East Bitcoin Bulls

In the wake of the recent Bitcoin price surge, many analysts have tried to come up with a reasonable explanation to explain the price movement. Some experts lean towards a short squeeze. Others believe that rumors of an impending positive BTC ETF decision from the SEC drove the market hype.

However, two analysts; Mati Greenspan of eToro and Clem Chambers of ADVFN, believe that a trading volume spike in the Asian market caused the BTC price rally. In a series of tweets, Greenspan, a senior analyst at eToro highlighted an increase in volume in both Japanese and Korean markets at the time of Bitcoin price surge above $8,000.

Perhaps even more profound is the fact that the trading volume in the American for that same volume remained reasonably constant. The effect of rising market enthusiasm in the Asian market also played a prominent role in the bull rally of late 2017 which saw Bitcoin almost eclipse the $20,000 mark.

Trade War and Currency Devaluation

For Clem Chambers, the CEO of ADVFN, the July 19 price BTC price surge was occasioned by wealthy Chinese scrambling to secure their money in Bitcoin in preparation for the impending currency devaluation. China’s continuing trade standoff with the United States and the decision to devalue its currency might enable the current price surge to hold.

Commenting on such a possibility, Chambers said:

If the trade wars go into meltdown, then bitcoin will ‘moon’ because huge amounts of Chinese currency will be swapped for BTC as the yuan-denominated super-rich move to be hedged from the wealth privations of devaluation. Bitcoin, not gold, is and will be the asset they will run to first.

The situation in China throws up another interesting angle for the emerging Bitcoin narrative. Many experts have likened top-ranked cryptocurrency to gold. The present apparent willingness of affluent Chinese to save their wealth in the BTC might be a testament to BTC’s status as ‘digital gold.’

Do you think rising trading volume in Asia caused the recent Bitcoin price spike? Is BTC better than gold as a hedge against uncertain market economic conditions? Keep the conversation going in the comment section below.

Images courtesy of Twitter (@MatiGreenspan), Coinmarketcap, Shutterstock

Čvn 19

Technical Analysis: Bitcoin Price Cycle Nearing a Close

Source: bitcoin

Bitcoin Price Technical Analysis

While fundamental analysts predict a continued rally to $1000 and beyond for the foreseeable future, technical indicators paint a more detailed picture. According to the charts, the ride up to $1000 will be bumpy, with periods of profit taking and resistance, especially around the $800 range. 

Also read: Blockchain as the Matrix: Are We Entering a Virtual Life?

Technical Analysis: Bumps in the Road

Long-Term Analysis


Almost at the $820 technical objective level, a distribution zone could take place with a trading box among this resistance and $600.

Indicators reflect fiction prices at this level, with irregular trading volume because of the distribution activity depending on the fresh demand of new holders. However, the less volatility there is in a resistance level allows the contrary opinion theory, and main players should be placing their profit taking with a re-buying strategy at $600.

Major figures have been accomplished, and Fibonacci is getting fulfilled, as well as the Gann Angles Theory, rounded bottom pattern and every mathematical forecast.

Only news and fundamentals support the present climbing, and any of those components have the capability to smash the present scenario for a technical correction that ends the cycle to start another from the $600 level, with a sideways trading box zig-zagging to $820, leading into a rise to 1800 at the end of 2016.

Mid-Term Analysis

Now, prices are rising, reaching the distribution zone at $820 / $790, where a heavy short marketplace is expected.

According to indicators, the up-trend line is strong enough to accomplish this technical objective and to end this mid-term cycle with a short correction to $600, placing the quotes into a trading box among $820 and $600 in a three-month sideways lateral market that zig-zags the chart, ending the present scenario and starting a fresh one from the box to new technical objectives around $1800 at the end of 2016.

Only political data, fundamentals and hot news are sustaining the present rise, adding the wishful thinking of current players whom are anticipating a continued rally to the $1000 level.

Technical analysis points to a different situation introducing the possibility of a short distribution zone around $820 and re-buying area at $600 in a zig-zag movement for the next time period.

Short-Term Analysis

The only support remains at $600, while prices head towards resistance at $820, getting into a trading box with these top and bottom levels.

There are not any minima to take in account as with the mid-term analysis, but volume isn’t thick enough to ensure any of the picks as a technical goal.

If a correction movement takes place, it would be the end of a large cycle from the $1200 high in December 2013, and the start of after a zig-zag sideways lateral box lasting three months with 200 basis points in a trading active range, which can be considered by the direct observation of the volume activity.

As with every trading range, contingent orders will be placed in a pyramid model that recognizes the oscillator signals of slow stochastics and RSI from below $630 and over $790, in an attempt to harvest profits that lowers the main position cost in the forecasting of the new cycle rise to $1800 for the end of 2016.

Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin. Trade at your own risk.


The post Technical Analysis: Bitcoin Price Cycle Nearing a Close appeared first on Bitcoinist.net.

Technical Analysis: Bitcoin Price Cycle Nearing a Close

Čvn 18

Technical Analysis: Long-Term Bitcoin Price Corrections to Come?

Source: bitcoin

Bitcoin Price Technical Analysis

As the bitcoin price rally gets into high gear, technical indicators at the long, mid and short term levels suggest that there could be corrections on the horizon, after a continued rise to $820 USD. 

Also read: Bitcoin Price Bursts Ahead, Nearing $700 USD

Let’s take a look at the indicators in the first installment of Bitcoinist.net’s new technical analysis series by Ramiro Burgos

Bitcoin Price Analysis

Long Term Analysis

Prices are breaking at every resistance placed by Gann Angles Theory, and also had left back the big triangle accomplishing all the technical objectives.

Taking on all the historical prices data, Fibonacci numbers at the 50% zone would be reached at $670, and the last forecasting on 62% is placed at $820, climbing to $1000 following the round numbers theory.

When we focus on the current recovering movement, the mathematical indicators still show strong signals to the bull market.

But the bubble is on, and every stop loss could follow the climb, producing an approximate 5% pull back. The present rise is just a long term technical correction from the bear market that started in November 2013, and finished in January 2015.

This long-term, upwards correction is about to end with a new correction to $600 as the current big support, likely creating a sideways lateral market and starting a new technical cycle from the new $600 level.

Midterm Analysis

After successive up-breaking, resistance quotes are arriving to a distribution zone, which could be between $670 and $820 due to long-term Fibonacci numbers indicating this up correction from the bear market which took place in 2014.

Now the strongest support shows itself at the recent broken resistance on $600, fixing trading activity among $670 and $820. According to indicators, the strong demand would let prices reach a new level to the up side buy that would be considered a distribution zone because of the overbuying signals from main volatility oscillators.

While investors is focus their math on the 100 level, moving stop losses are recommended on 5% spread behind spot prices, leaving time to accomplish the end of the present cycle, which could  happen in July 2016 or at $820.

Short-Term Analysis

The rising support at $600 seems to be strong enough, and prices still climbing over the 670 level trying to accomplish the long-term Fibonacci numbers at $820 level.

The distribution zone among 670 and 820 could be big enough to take the prices back to 600, creating a lateral sideways market starting a new long term cycle, and closing the current cycle that started on November 2013. This new cycle could have a similar duration as the November 2013 cycle currently coming to a close.

Traders should place moving stop losses at 2, 3 or 5%, but the new lateral sideways movement could have its resistance at $670 after we reach the projected $820 peak. Everybody should wait to sell their positions at $1000, but should also be aware of possible forced stop loss order activations at $820.

Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin. Trade at your own risk.

Article written by Ramiro Burgos.

The post Technical Analysis: Long-Term Bitcoin Price Corrections to Come? appeared first on Bitcoinist.net.

Technical Analysis: Long-Term Bitcoin Price Corrections to Come?