{"id":109175,"date":"2019-07-01T13:52:59","date_gmt":"2019-07-01T20:52:59","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=109175"},"modified":"2019-11-07T02:52:07","modified_gmt":"2019-11-07T02:52:07","slug":"bitcoin-interrupted-correction","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-interrupted-correction\/","title":{"rendered":"Indicators showing Bitcoin’s uptrend could be interrupted by a major correction"},"content":{"rendered":"

Although the longer-term indicators point to the beginning of a bullish trend that could take BTC to\u00a0<\/span>new all-time highs<\/a><\/span>, the shorter-term timeframes indicate a Bitcoin correction is overdue.<\/span><\/p>\n

Since the low of December 2018 when\u00a0<\/span>Bitcoin<\/a><\/span>\u00a0was trading at $3,130, BTC experienced a strong upswing that has taken its price to almost $14,000, leading investors to believe that a\u00a0<\/span>parabolic phase<\/a><\/span>\u00a0has started. With strong upward leaps in price come similarly jarring corrections.<\/span><\/p>\n

Bitcoin technical analysis<\/span><\/h2>\n

In the macro-perspective Bitcoin looks bullish, even though institutional investors have not formally entered the market.\u00a0<\/span>Fidelity Investments<\/a><\/span>\u00a0is yet to launch its cryptocurrency trading service, as well as\u00a0<\/span>Bakkt<\/a><\/span>, TD Ameritrade, and E*Trade, as the economist and financial analyst Alex Kr\u00fcger pointed out, which could be the catalyst that takes BTC to higher highs.<\/span><\/p>\n

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Fundamentally, many bullish catalysts still ahead: Fidelity, Bakkt, Ameritrade, Etrade. Bakkt would begin testing its futures Jul\/22. Retail interest is steadily climbing, and so is institutional interest, which has been piqued due to $BTC<\/a>'s performance and macro narratives. pic.twitter.com\/vSXJglkqyO<\/a><\/p>\n

— Alex Kr\u00fcger (@krugermacro) June 29, 2019<\/a><\/p><\/blockquote>\n