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Title: [2016-06-19] Technical Analysis: Bitcoin Price Cycle Nearing a Close Post by: secone on June 19, 2016, 10:09:34 PM Almost at the $820 technical objective level, a distribution zone could take place with a trading box among this resistance and $600.
Indicators reflect fiction prices at this level, with irregular trading volume because of the distribution activity depending on the fresh demand of new holders. However, the less volatility there is in a resistance level allows the contrary opinion theory, and main players should be placing their profit taking with a re-buying strategy at $600. Major figures have been accomplished, and Fibonacci is getting fulfilled, as well as the Gann Angles Theory, rounded bottom pattern and every mathematical forecast. Only news and fundamentals support the present climbing, and any of those components have the capability to smash the present scenario for a technical correction that ends the cycle to start another from the $600 level, with a sideways trading box zig-zagging to $820, leading into a rise to 1800 at the end of 2016. http://bitcoinist.net/technical-analysis-bitcoin-price-close/ |