Bitcoin Hits $25/BTC, Shows no Resistance to Further Increases

It's been all of two weeks since Bitcoin cracked through the psychologically important $20 USD barrier, and now $25 has been breached.

At this time, the order book shows no resistance to the price moving rapidly higher. One can only surmise that this is a setup for an even larger upwards move, followed by an inevitable crash to lower support.

It would not surprise me to see a rapid move past the previous all-time high of $32, perhaps to as high as $40-$45, before a correction takes us back down to the mid twenties for a rest. One thing is for certain: the next week of trading will be exciting.

Posted in: bullish,trading