BTCUSD
is currently at the 50% halfway point since the '13 ATH. If it decides to go ahead and push pass it, it'll begin to see some higher highs and eventually obtain another ATH sometime next year due to the lack of resistance past $800.
If not, it will be stuck under the $675 slash 50% area for the rest of this year.
Both areas are ripe for additional volume building so either route would create a base for another movement upwards.
In the short-term I see nothing but a push downwards for additional footing which will then revover after the price is considered too low by investors.
Timewise, If the push does not occur in September,
BTCUSD
will be looking at building a sizeable base around $600 for the rest of the year. Failure to stay above the trend line will indicate a desire to return to a bearish market. But after having said that, since new cryptocurrencies like
STEEMBTC
,
ETHBTC
, and
LSKBTC
are continuously popping up with no end in sight, the potential for
BTCUSD
to find lower-lows is losing its possibility. The only potential for continual selling is if the Bitcoin "all-volunteer" developer team does something through action/inaction or if the entire world economy reverses it's inflationary trend and the cryptocurrency economy falls apart.
But seeing as bankers don't want deflation to happen, hyper-inflation is in our future for everyone.
Click here to trade now with 15% discount.
www.bitfinex.com/?refcode=jG...