Technical Analysis: Weekend Bitcoin Price Drop Explained

Bitcoin is falling down to end its current cycle, which will happen when prices drop to the technical reversal level.
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Where Did the Weekend’s Bitcoin Price Drop Come From?
Long-Term Analysis
Prices have started the dive to $600 and $580 after a large lateral sideways lateral movement that ended the first technical cycle. To start a new cycle, quotes must reach former broken resistances, which become supports. Once this occurs, strong purchases are expected, framed in the marketplace of biggest players.

This post was published at Bitcoinist on 2016/08/01.