The price of bitcoin is in a bullish pattern, seeing significant spikes over the past 24 hours. At press time, the value of one BTC has reached a high of $612 USD, and the price momentum is looking on the upside.
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Last Week Bitcoin Remained Stable, But the Price Is Now On the Move
As reported by Bitcoin.com’s last price analysis on August 23, bitcoin charts have been reflecting a pending price rise. On September 3, the value of BTC moved past the $570 range into the $590s during the course of the afternoon.
Buying patterns look strong, and heavier resistance should be in the $620-30 range with possible slowdowns. Fibonacci extensions suggest a possible advance to $675 over the course of the week, as long as market manipulation and negative fundamentals steer clear of the technical trend.
Last week saw stronger buying and increased volume of trading activities across all major exchanges. There is plenty of room for intra-range strategies, assuming that the price sees more volatility than last week. Trendlines