Bitcoin has again hit the headlines after breaking through the level of 12 thousand dollars, the rapid growth of cryptocurrencies hardly possible to stop. Due to the severe pressure of the bulls on the 1-month chart, Bitcoin formed a pretty interesting candlestick pattern, which can be considered a sign of a strong trend reversal in the history of mankind.
Bitcoin is the record for number of absolute records among all financial assets. Prior to its invention did not exist something like that. Cryptocurrency is still surprising everyone with his rapid growth, while after the end of each bull cycle, it loses almost 85 percent of its value.
After falling almost to $ 3,000 in Bitcoin managed to surprise the world again in just a few months its value has increased four times. While bitcoin has managed to settle above 10 thousand dollars, now its price is only 35 per cent below the historical high set at the end of 2017. Today the rate jumped above 12 thousand.
This is probably the strong reversal of the trend of an asset in the history of mankind. And he is just starting to gain momentum.
This is probably the strongest trend reversal pattern of an asset the human race has ever experienced and it’s just getting started. #bitcoin pic.twitter.com/GCm8JSATv6
— Galaxy (@galaxyBTC) June 25, 2019
On the chart of Bitcoin are clearly visible, three large green candles, which according to the rules technical analysis signals a strong bullish trend. In other words, all the conditions for global growth BTC has already been done.
The road to a new high
According to the trader Josh Rager, before the bulls left the final obstacle — the 14 $ 200. After overcoming Bitcoin can very quickly grow to a line of 20 thousand dollars.
1-weekly chart of Bitcoin looks really good. People may say about the rollback, but now nothing will stop bitcoin from breaking through the line 13 thousand dollars. When the price will be 14 $ 200, on the way to bulls will no longer be any obstacles up to a historic high of 20 thousand dollars. I won’t stand in the way of a speeding train.
$BTC: Weekly chart looks so good
People can talk all they want pullback, but not much is stopping Bitcoin from ripping up to $13k+
After price passes $14,200 there isn’t a lot standing in the way to new all-time highs
I’m not going to try to stand in front of a moving train pic.twitter.com/7JhoqwgXLG
— Josh Rager ? (@Josh_Rager) June 26, 2019
Note that the index of dominance of Bitcoin for the first time broke the mark of 60 percent. Now, he is at 61.7%. Trading pair BTC with Althingi are at our peak, so once again we remind you about the importance of correct asset allocation in your portfolio. Most of it should take Bitcoin in almost any situation.
Even more interesting, read our cryptodata of hontarov!
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