Bitcoin Price Prediction for May 25, 2016
May 25, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC): Our forecast remains right on track as the bitcoin market continues to follow the technicals to a T. We now find ourselves back above the key 450 $ level, a positive sign for the bulls, however some significant overhead resistance might put a damper on any further gains (at least in the near term).
That said, the fact that the bulls have been able to push above 450 $ on overbought momentum tells us that the bulls remain in control (barely), although we also think another pullback to clean up the indicators is necessary prior to tackling heavy resistance from 460 - 480 $.
For the time being we remain in the consolidation zone between 430 - 460 $, so until we get through this mess the market will likely remain relatively stagnant. For more information on our medium and long term forecasts, as well as ProTrade Ideas and altcoin coverage, please SUBSCRIBE today!