Bitcoin to return to $1000-$1600 range

2 thg 6, 2017

Lower high on recovery rally from $1800 region. The price remains around the 1 week average, but slowing momentum seems to suggest this uptrend is almost over. I believe this is an overshoot from the channel depicted on the chart, ergo, the price should return inside the channel ($1000-$1600). On a strong selloff, it is not unreasonable in my opinion to see a move below $1000. Buying in the upper $900's would be really advantageous now that we know there are plenty of people willing to buy above $2000. I am eyeballing a limit order at $995.

If we apply the concepts of inter-market analysis, it is also likely that the Bitcoin sell off and Ethereum sell off will happen at the same time.

**Nothing I post constitutes investment advice. Everything I post is for entertainment purposes only!**