Bitcoin has surpassed our target of $1500 a few days earlier than I anticipated. While I think it is clear that higher prices, maybe much higher prices, are in store for this asset in the months to come, it is likely a good time to take profits if you are a short-term trader. I will go out on a limb here and suggest that this coin is ripe for a significant correction – soon.
There is clearly A LOT of new money coming into cryptocoins of all flavors these days. This cryptocoin bull market is far from over, I suspect. But still, this vertical ascent is unsustainable. More importantly, we have hit a 5th arc, and it was hit exactly, within 8 hours, of a 270 degree (3×90) movement from the low of 8/2/2016. Here is an 8 hour chart:
XRP is on a tear and should be on your radar screen. It has made a new ATH and broke through longer-term resistance to get there. This coin could triple from here. My long term charts suggest the possibility of .25 by mid-summer. However,
Read more ... source: TheBitcoinNews
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