Driven by Volumes, Momentum and Market Price Sentiment have allowed Bitcoin to surpass the 3k mark; trading at 3380 as of this writing. Its 'Collective Market Cap' equally past the USD50B mark led to investors demand of the digital currency to record levels. Which we think also added to the positive tone that the global stocks and investors sentiments from the better than expected figures from the JOBS report have likewise spilled over to the Bitcoin market. As the recent acceptance from Japan and Korea added to fuel its growth potential in the near term rally.
As of August 7, 2017
As of August 7, 2017
For now, the overall technical perspective we defined has been limited to the figure best described below as prices have continued to move higher towards the 3200 levels well above the projected objective. No matter how prices extend to greater heights, we'll take it and watch were an exhaustion can be set in place, whenever there would be one to this writing.
Meanwhile. our GBTC Investment Trust is back towards the USD525.00 with a convincing opening gap that could lead towards a run away price gap supported by the solid fundamentals of BTCUSD heading on to this week.
Notice the similar chart formation that we have applied which have signaled a high degree of probability for BITCOIN to attempt a newer high. Although, the parallel lines projected have set its higher goal, it has gone through the USD3250 levels. A Clear, Clean and Simpler Approach Defines Trade Potential once Identified! And Results delivered after the fact.
As of August 11, 2017 - VALIDATION Price Update
#BITCOIN PRICE UPDATE: ABOVE 3700 Extension weighs in Market price from momentum trades.
When the such price behavior runs in a pattern from its decline it can rally in a similar pattern once a reversal has been identified. The market run in this particular case was in multiples of USD300 +/- value unlike with the AUSSIE Dollar previously described. However, such methods can go in a variety of ways applied depending on the market conditions. The difference is huge simply because the market runs on price and momentum acceleration from demand and market sentiments.
As of Aug 18, 2017 UPDATE: #BITCOIN Steam Fades on Profit-taking
Validation
Validation
The obvious #BTCUSD run came into an initial wall that saw prices drifting lower at the end of the week's trading above USD4050 from a recent high at 4480.00. Traders and speculative investors have managed to hang-on as demand could be felt from price action movements. And waited until prices marked its high nearest to the USD5000 initial objective which prompted to cashing gains gradually as its continued to drift lower towards the closing week.
Likewise, the USD value in trades makes a lot of difference from a week's period in the market when we released this market outlook.
ReplyDeletePrice Update: As of 8.14.17 Asia #BTCUSD trading at USD4126 after making a high at 4190. Volume and momentum still prevail as demand for Bitcoin can only slow down when we see some price stability which may come within a consolidation between 4k -5k +/- towards the end of the third quarter period. Expect market volatility to remain these target levels, as some analyst does not really see much of a market correction at this time.
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