2016/08/29 1:00 PM
The bitcoin price is still sliding into a new bullish pattern, but given recent activity, we should expect prices to stay around the same level for a while before major upward movements make their way into the market.
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Bitcoin Price Sideways Longer than Expected, But Markets Still Preparing for New Bull Run
According to indicators, as well as bullish consensus, prices are sliding into a new bullish pattern that could initially manifest itself as a fast rally to $820. However, after reaching $820, another congestion area would take hold, pushing prices sideways before they continue to move higher.
The current lateral market brings a lot of false signals and the balance could break up at any moment, so be prepared for the upward movement towards $820.
The current price level does not coincide with projections…