Bitcoin Price Prediction for June 3, 2016

Jun 3, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

Following an extended struggle between bulls and bears within the 530 - 540 $ trading range, the market once again broke out to the upside just after OKCoin futures settlement last night.  

In our opinion this is more a result of the lack of conviction and strength on the part of the bears, who simply could not sell through the strong demand, rather than anything fundamental or technical.  Despite the fact that the near term technicals are still stretched and the longer term charts are moving in that direction as well, given what happened last weekend we are hesitant to maintain our negative bias.

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