Bitcoin Price Weekly Analysis –BTC/USD Above $700 Is Real?

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Key Points

  • Bitcoin cost continued to pierce aloft and staid above a $700 symbol opposite a US dollar.
  • Many traders are in dishonesty that a cost surged this high in a brief camber of time.
  • I consider BTC/USD is due for a improvement now looking during a weekly draft (data feed from Bitstamp).

Bitcoin cost swell was amazing, though BTC/USD is reaching a indicate where a bulls need to be really clever relocating ahead.

Bitcoin Price Resistance

Bitcoin cost this past week traded above a $750 symbol opposite a US Dollar, and was simply unstoppable. The final 4 weekly candles on a weekly draft of BTC/USD (data feed from Bitstamp) tells a finish story. However, during a same time if we demeanour during a history, there were no such behind to behind candles. So, BTC competence find it really tough to continue trade higher.

The cost is now contrast a 61.8% Fib retracement turn of a final dump from a $1153 high to $145 low, that is behaving as a insurgency for some-more gains. No doubt, it is a technical turn and if it continues to act as a resistance, a cost competence pierce down.

Bitcoin Price Weekly Analysis
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