Ever since the beginning of April the price of Bitcoin has been skyrocketing. In-fact, Bitcoin had been outperforming all the rest of the leading coins, in some cases, by a very large stretch.
Moreover, from a technical point of view, Bitcoin had been remarkably technical over this period of time. The intense up surge in price did not leave out every single one of the Fibonacci correction levels. From the first 23.6% and all the way to the 61.8%, which had been checked just a few days ago.
The most impressive part of the latest developments in price action was the amazing pullback from the mighty 61.8% back to the 50%, closing the weekly bar (and the monthly bar) right on that spot.
This Bitcoin video analytics was published in our members area earlier today, suggesting that the price of Bitcoin may very well be entering a technical correction phase. We have completely pulled out from our holdings on the Bitcoin till further notice. Check it out |
