Bitcoin comeback for another bullish round

Almost two weeks ago I predicted that the BTC/USD pair would continue to grow and I set my target level around the 253 area. (I know, I said 254.206, but it’s always a good idea to set your TP just a little bit lower). Today, on the 29’th of June, 2015 the target was reached and yet another successful trade has now been closed. The only thing that will keep bugging me is the fact that I couldn’t wait a few days into the evident correction and jumped on the train too early.

Clear bullish signals from Bitcoin

There’s no doubt that the cryptocurrency will climb even higher in the weeks to come. If we take a look at the weekly chart we can see that something big is about to happen.

Bitcoin versus usd weekly chart showing imminent breakoutThere’s just no way this can continue for very long. Sooner or later a breakout of massive scale is going to happen. We are seeing the first signs already by looking at smaller time frames, mainly the 1H and 4H.

The correction that started some time on the 18th of June has now officially ended as we moved past the 250.810 range (the closing price for the 17th of June candle).

Author: ynef

29 year old freelance writer and web developer. A technophile who appreciates and respects mother nature in all of its glory. Favorite skills in Runescape include Farming, Herblore and Magic.


You may also like