Ramiro Burgos · November 28, 2016 · 8:22 am

Technical indicators show that the bitcoin price is now preparing for a large, upward movement following the growth of intermediate support at $700.

Also read: Genesis Mining Offers Black Friday, Cyber Monday Discount on Contracts

Bitcoin Price Technical Analysis

Long-Term Analysis

Prices have built support at $700, while a lateral market—previously estimated at a higher level—currently plays out.

A big cradle formation suggests that the next stage will bring an upward movement with a technical objective around $1100. If this projection rings true,…

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