Bitcoin Price Report for June 13, 2016

Jun 13, 2016 --- (ARCHIVED) Free Reports

Market Commentary (BTC):  

Another wild weekend in the bitcoin markets brought more upside breakouts in price, this time above 600 & 700 $.  Despite rather heavy historical resistance between 600 - 700 $, the bulls were able to plow right through that area with ease as FOMO has now kicked in (at least in the very short term).

Due to the fact that the shorter term charts are not very helpful for our analysis right now given we are in an area that has not been explored in years, we turn to the 3-day chart below for some perspective on where we now stand.  We can see that price is now pressing up to the top of a fairly massive supply area that goes back to the Summer of 2014, as well as a historical resistance line around 700 $...

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