Bitcoin Price Bulls Stirring
Bitcoin price is edging higher as Gold is whip-sawing near its 2016 highs. With Classic(TM) looking to be heading the same way as XT, the market may feel renewed confidence in the integrity of Bitcoin. Today’s analysis proposes a few technical confirmations that should be observed before betting on the upside. The general mode of trade appears to be using the MAs as support for slow upward progress. The 1-hour chart MAs (not shown) seem to have an xbt.social buy signal forming, but before we prepare to trade to the upside, let’s remember yesterday’s illustration of how the market is....
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BTC price at press time: US$271.39. The fiestas of San Fermin are celebrated in Pamplona, Spain every year from July 6-14. The event has become internationally renowned because of the running of the bulls, where the bulls try to gore wanna-be matadors through the streets of the city's old quarter. Meanwhile, Bitcoin, too, is experiencing a bull run and as of this writing has broken through the 200 day EMA, the last big hurdle in its way. “The price reached a high of ~US$252 and has now come down to ~US$249 and thus far the price has been consolidating above these two moving averages, which....