Bitcoin Price Prediction for May 30, 2016

May 30, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

Due to the Memorial Day holiday in the US, the Bitcoin BullBear Weekly Report will be released tomorrow (Tuesday the 31st).  Until then, we are issuing a short term update based on the price action we observed over the weekend.  

No doubt that the bitcoin price is now firmly in the 500's $ on all exchanges, although China continues to run ahead of the other markets with more than a 30 $ premium (which was 70 $ at some points over the past few days).  We continue to view this a bullish indication much like it was back in 2013, although when the premium gets too stretched it likely means a short term pullback.

Given that the fundamentals remain favorable for more upside going into the halving in our opinion, we turn to the technicals to see if there are any hidden warning signs of a more substantial correction on the horizon.  For more information about our full forecast, ProTrade Ideas, and altcoin coverage SUBSCRIBE today!