2016/10/17 6:52 AM

If you thought the ride to $640 was exciting, you might be in for a treat. The little flag pattern currently surfacing on bitcoin price charts could launch prices up from a trigger zone that points $820 as a technical goal.

Also read: A Chinese Perspective: BitKan Visits Ukraine Bitcoin Conference

Bitcoin Price Technical Analysis

Long-Term Analysis

Bitcoin Price Technical Analysis

After prices recognized a strong support area at $600, volume indicators reflected professional marketplace activity, suggesting that the next stage could be a breakaway psychological trigger among $620 and $650, pointing a technical goal near 820.

According to Elliott Wave Theory, the current movement should reach a higher scenario through the 5th phase, from where a profit taking would be considered.

Mid-Term Analysis

Bitcoin Price Technical Analysis

Mathematical indicators are showing the same bullish signs that were present just before the big rally in late May.

However, current prices react with lag,…

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