2016/09/26 3:17 PM
The bitcoin price has stayed at the same level all week. However, the market has been building a technical trigger and adding bullish consensus, which has sustained all factors that back the next rally from $650 to $820.
Also read: Bitcoin Price Volatility Exciting Bulls, Rally Still Expected
Technical Analysis: Cycle Synchronization to Spark Rally to $820
Fundamentals and political factors promote the next rally, which is expected to increase the bitcoin price $650 to $820. From the current support level determined in the $580 $600 range, bullish consensus allows a sustained, upward movement that will probably ignore every intermediate resistance from the present technical zone to $820.
A new cycle has begun, with the original upward-sloping trendline from 2013 still driving action to trigger prices among $600 and $650 from where the rally is calculated.
In the current cycle, price quotes…