Bitcoin Fundamentally Bullish, But Near-Term Technical Forecast Could Be Gloomy

2019-7-1 00:08

Bitcoin and the aggregated crypto markets have once again faced a bout of downwards pressure today that have led most cryptocurrencies to drop several percent, with BTC briefly falling below $11,000 before finding some buying.

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The post Bitcoin Fundamentally Bullish, But Near-Term Technical Forecast Could Be Gloomy appeared first on Ethereum World News. .

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bitcoin could forecast gloomy bullish fundamentally near-term

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On-chain data shows Bitcoin could currently be following a similar pattern as in a previous cycle in terms of this indicator. Bitcoin Could Now Be Entering Phase 2 Of The Bull Run In a CryptoQuant Quicktake post, an analyst has pointed out how the recent trend in the Bitcoin long-term holder supply has been reminiscent to what was observed in the 2017 cycle.

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Crypto Analyst Says Next Bitcoin Target Is $78,700 If BTC Breaks This Resistance

An analyst explained that the next target for Bitcoin could be $78,700 if BTC could cross this resistance level of an on-chain pricing model. Bitcoin MVRV Extreme Deviation Pricing Bands Put Resistance At $65,800 In a new post on X, analyst Ali has discussed some price levels for Bitcoin that could be important based on an on-chain pricing model.

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