Great to be back with you all :) Bitcoin is going STRONG and looking very healthy at the moment. Current MC= $94.6B and it has been very stable above 90B the past few days.
In today's forecast I see Bitcoin bouncing back down to the $2650 range (due to low trading volumes) before picking up some momentum to come back to the $2800 level. Right now the price feels extremely compressed as investors wait for a slight dip to buy and sellers are waiting for that nice pump in order to put in that sell order. Both sides seem to be holding, waiting for the other to set the price in motion.
You will notice the extremely low trading volumes right now on the bottom right- almost exactly like three days ago right before we shot up to $2917. All of the recent news has people holding onto their coins (for now) awaiting the next leap in price. This is keeping the price relatively stable which is good news for most investors right now as other coins aren't fluctuating as rapidly to keep up with the exchange rates.
Likely Scenarios:
- BTC drops down to $2650 before popping back to $2800+
- BTC stays stable in the $2700-$2800 range
- BTC slowly climbs back to $2850 range before dropping back to $2750 range
TLDR Version:
The bullish momentum has slowed down allowing for overall stability in the market. Any pullback will be met with nice support in the $2650 zone. Resistance is around $2850 but we are looking to break that $3,000 mark any day now :)
Price Target:
$2870
AS ALWAYS PLEASE REMEMBER TO FOLLOW, UPVOTE AND LEAVE A COMMENT DOWN BELOW! Last price forecast: https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-7-22-2017
Latest crypto price analysis: https://steemit.com/bitcoin/@hotsauceislethal/omisego-price-analysis
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thanks, great post, following
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Gud job bro.. same opinion..
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I'm no analyst, but I would agree with your bullish outcome for bitcoin. With the fork risk now off the table. It seems like we could be headed for business as usual.
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Nice chart and I concur with your analysis. I was lucky enough to buy some BTC and ETH on the 16th at $1940 and $160. Only wish I had bought a lot more! lol
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I (stupidly) only bought 1 ETH @ $137 during the price drop recently. I was buying the whole way down and was waiting for it to fall below $130 but it snapped right back up!
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nice info
I hope BTC go to $3000
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My wife and I will be buying $70000CDN tomorrow with Ezbtc.ca. They said that they will give us a deal on the fees. Missed the low price but feel at peace about it.
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My advice would be to never put in that large of a buy order at once. Rather space out your buy orders and out over time to do cost averaging. Especially if you're an investor NOT trader.
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Good points in this blog. Nice to see I'm not the only one who thinks like this. Though prices might seam inflated for now I don't think they will look like this 2, 3 years from now. I found this amazing platform: https://www.coincheckup.com I'm really happy with this site that gives complete coin analysis for every single crypto. Go to: https://www.coincheckup.com/coins/Bitcoin#analysis For the Bitcoin Investment research report.
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