2016/09/06 12:00 PM

The bitcoin price has finally recovered after a longer than expected lateral stage, returning to technical patterns forecasting a big rally to $820. 

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Technical Analysis: Bitcoin Price Ready for the Moon

Long-Term Analysis

bitcoin price technical analysis

After a longer than expected lateral sideways movement, traders have finally pushed the bitcoin market into a recovery, allowing the price to return to the technical quote level.

There are no visible resistance levels that can stop this upward climb until we reach $820. Volume indicators reflect that big players have already taken positions to allow this rally to happen, so the rise to $800 and beyond should be smooth.

This upward movement suggests the start of a new technical cycle. If that’s true, we can expect the bitcoin price to start a longer-term growth trajectory to prices near $1800. We predict that these price levels will be reached…

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