2016/11/14 5:00 AM

After Showing its strength to a massive public scope from traditional media, the bitcoin price has started the next climb, which is set to double quotes during December

Also read: Altcoin Report: The Blockchain, In Space? 

Bitcoin Price Technical Analysis

Long-Term Analysis

Bitcoin price technical analysis

Prices built an intermediate level at $700, creating a premature lateral sideways market, which was estimated to form at a higher level, increasing volatility in a big flag pattern.

Once the flag pattern appears, we should see another short climb to the technical objective at $820 and beyond. If this forecast comes true, then the euphoric bubble would be on, doubling the present quotes before the end of 2016.

Mid-Term Analysis

Bitcoin price technical analysis

Since August 2016, the bitcoin price has been synchronizing with a rising 45-degree axis.

Now, among several confusing patterns and false signals, the easiest thing is to assume is that the synchronization is about to be completed,…

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