Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Crypto on July 21, 2018, 09:28:28 AM
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https://www.coindesk.com/bitcoin-prepares-to-test-8k-after-bull-breather/
Bitcoin's (BTC) minor price pullback yesterday has likely recharged the bulls for a rally towards $8,000, technical charts indicate.
The leading cryptocurrency has spent a better part of the last 15 hours trading in the $7,240–$7,440 range, having clocked a 40-day high of $7,588 at 18:00 UTC yesterday.
Moreover, BTC was looking overbought at multi-week highs, hence a minor correction was expected.
More importantly, the price pullback and the subsequent consolidation, when viewed against the backdrop of the high volume inverse head-and-shoulders breakout, indicate that BTC has likely gathered steam for a more sustainable rally towards $8,000.
At press time, BTC is changing hands at $7,400 on Bitfinex – up 0.2 percent on a 24-hour basis.
Back on track? Can expect the go cross 9K this month end?
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I don't think it will be the beginning of a new bull run right now ... but I hope we will hit 8k
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Yeah, summer blues will be hurting the market for another month or so most likely, but you never know. The bull run starts when it breaks 8k.