As predicted we have shattered the record AGAIN! Current MC: $127.4B and GROWING FAST!
Yesterday we had a breakout due to a nice pop in volume which led to us breaking the previous high at $3483 then pulled back a tiny bit only to have an even bigger breakout to push us past $3500 :) Just as predicted the price shattered previous records by about $68 and hit a high of $3551. My price target from yesterday's forecast was $3540 and we just barely passed that.
In today's chart you will see that we are just coming off an all-time high with a double attempt at breaking it. This normally means we are headed right for a slight sell off. Expect a retracement down to $3400-3450 before a little more support keeps the price afloat. We should see another bullish day if I know anything about the Bitcoin markets...
Likely Scenarios:
- BTC drops back down to $3450 in the short term and then falls back down to $3350-3400 by tonight
- BTC holds around $3450-3500 range until a little more volume picks up later today
- BTC drops back down to $3450 and then pulls back up to $3550 before rallying to new highs again by tomorrow.
TLDR Version:
Market is super bullish AGAIN today but we will face a slight sell off before making any moves further up. Prices will be stable around $3450 today for the most part. If we do see any serious movements it will be up towards new highs.
Price Target:
$3580
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
Please Remember To: 
Check out yesterday's forecast:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-8-10-2017
BitcoinCa$h forecast:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoincash-price-forecast-8-9-2017
Feeling salty about missing the crypto boat?
https://steemit.com/bitcoin/@hotsauceislethal/how-to-conquer-fomo-fear-of-missing-out
Don't worry:
https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-s-hype-cycle-is-just-getting-started
It's already passed 3600 wow
We hit $3796 on Coinbase tonight :)!!!
Maybe you add minimum on your price target next time. lol
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Thank you sir @hotsauceislethal !
Awesome analysis as always!
Upvoted, resteemed and enjoyed!
Thanks!
:) Thanks man, the market is a lot hotter than I predicted two hours ago. No cooling off yet as we are already pushing highs toward $3600. Huge sell wall there so we will see if we can break past or not.
Yeah, I use GBP£ for pricing and just got an alert at £2800....that's crazy money from a week ago!
The variance between SAFEX and OMG has been fantastic also for some reason. Managed a 50% increase from turning over a ton of trades today.
You been looking at OMG? Would love to hear your thoughts on it?
I've taken a more long-term position on OMG as was expecting serious consolidation after the last wave, but it looks like it could start a new run shortly.
I think we will see BTC near 4k or even at 4,1k and then re-balancing will take place and it will go down under 3k somewhere soon.
For sure. If we hit 4k a retracement back to 2900 is definitely possible. It would be roughly .50 ratio which is typical after a large bull run.
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https://steemit.com/bitcoin/@umbertoraiola/vegeta-speak-about-bitcoin
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