Topic: BTC price will correct higher to $7,700 to $8,000 - page 2. (Read 294 times)
I really think bitcoin will surely form a ceiling over that values, and it can be a slow pace but a sure quality increase for bitcoin right now that is why it is still a great time to invest and increase your holdings, for now, But until we can not see every ceiling that will let bitcoin across every difficulty there is no time for FUD because if there would have a negative news about bitcoin then the ceiling can go crushing down again.
BTC has been rallying since the bottom at $6,600 is confirmed. Now that price has moved to above $7,300 with strong expansion in volumes, we may say that an effective counterattack has been initiated, making it mostly likely for bulls to challenge the resistance at $7,700 in the short term as price holds great chances to continue moving upwards.
If you take a close look at how price moves on daily chart you will find that a minor floor will be formed during a certain period, besides, price will continue dipping after rallying to the resistance provided by last floor whether rally receives support from volumes or not.
That’s the reason why I believe $7,700 will be the ceiling after price has been forming another floor in the past 4 sessions, now it’s easier to tell how BTC will move in the short term.
We believe price will correct higher to $7,700 to $8,000, selling on surges is recommended if the overall trend remains intact.
We may also say that bounces are the root cause for lengthening bear circle as price will continue dipping after every rally during overall downtrend.
Original by Kuang Ren, translated by AICoin Jami.
If you take a close look at how price moves on daily chart you will find that a minor floor will be formed during a certain period, besides, price will continue dipping after rallying to the resistance provided by last floor whether rally receives support from volumes or not.
That’s the reason why I believe $7,700 will be the ceiling after price has been forming another floor in the past 4 sessions, now it’s easier to tell how BTC will move in the short term.
We believe price will correct higher to $7,700 to $8,000, selling on surges is recommended if the overall trend remains intact.
We may also say that bounces are the root cause for lengthening bear circle as price will continue dipping after every rally during overall downtrend.
Original by Kuang Ren, translated by AICoin Jami.
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