Bumpy Ride: Bears Expected as Bitcoin Price Advances Long-Term
The bitcoin price has stayed at the breakout level all last week. This sideways activity has added to fundamentals and political factors that support the next up rally from $650 to $820. So, while not much has happened in the last week, don’t lose sight of the rally just yet. Current indicators point to higher levels, but prices have remained at the breakout level. While this stability has gone on, new fundamentals and political factors have built up, likely promoting the next rally. If this proves to be the case, the bitcoin price is expected to rise to $650, then to $820. In the....
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We take a look at various influences keeping the short term price down that also contribute to long term bullishness.
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Ethereum is approaching the moment of the truth. The price has reached the most likely peak of the correction towards the downward movement which has started in June 2016. Ethereum. About two months ago, Ethereum price has reached its long-term key line near $5.8, which can be seen as the likely peak of the correction towards the long-term upward trend. At that moment, the continuation of that long-term upward trend became possible. Today, half of that scenario has already been fulfilled. Ethereum price is at a profitable zone for the bears. That is confirmed by a flat-like movement which....