BTC/USD remained largely unmoved this week, but maintained its strength above the 600 mark. It is currently trading at 604 levels (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 600.23
Kijun Sen: 609.93
Trend reversal: 596 (90 EMA)
On the upside, the pair is struggling for a consistent break above 605.67 (21-DMA). A close above this level would target 616.71 (100-DMA)/ 628.99 (September 11 high). Only a break above 630 levels would confirm further bullishness in the pair.
On the other hand, support is seen near 601.18 (10-DMA) and a break below would drag the pair to 596 (90 EMA)/549.70 (200-day MA).
In a recent tweet, Kim Dotcom has reiterated that Megaupload 2 and Bitcache will take bitcoin mainstream, adding that he still expects bitcoin price to hit $2000 within two years.
Oh yes. MU2 and Bitcache will take #Bitcoin mainstream. I expect Bitcoin to hit the $2000 mark within 2 years. https://t.co/U1HsWzlA7r
— Kim Dotcom (@KimDotcom) September 29, 2016
Investments in Megaupload 2 and Bitcache via @BankToTheFuture will require Bitcoin. Showing our commitment to the digital future of money.
— Kim Dotcom (@KimDotcom) September 29, 2016
