{"id":387125,"date":"2019-06-22T06:00:43","date_gmt":"2019-06-22T06:00:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=387125"},"modified":"2019-06-22T04:32:45","modified_gmt":"2019-06-22T04:32:45","slug":"bitcoin-closes-on-11k-as-fourth-parabolic-phase-begins-100k-target-possible","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-closes-on-11k-as-fourth-parabolic-phase-begins-100k-target-possible\/","title":{"rendered":"Bitcoin Closes On $11k as Fourth Parabolic Phase Begins, $100k Target Possible"},"content":{"rendered":"

As predicted yesterday by traders, analysts and us at NewsBTC<\/a>, it would not be long before Bitcoin broke the psychological $10k barrier. That milestone was reached a few hours ago during the Saturday morning Asian trading session.<\/p>\n

Bitcoin Surges to $10,900<\/h2>\n

The surprise was what came next as Bitcoin did not even take a breath before surging even higher. Many had predicted a lot of profit taking at $10k but this has not been evident yet. Notching up a 10 percent gain on the day, BTC settled at $10,900 a few hours ago. Volume has surged to $23 billion as market capitalization closed up on $200 billion, almost two thirds of the entire crypto market.<\/p>\n

The profit taking started to kick in there as the subsequent candle was red but the fire had already been lit. Fundstrat\u2019s Tom Lee predicted that a lot of FOMO would kick in at this level as mainstream media started reporting that Bitcoin was back at five figures.<\/p>\n

Long term trader \u2018CryptoFibonacci\u2019 noted<\/a> that from a technical aspect a sharp pullback inside the Bollinger Bands would be expected.<\/p>\n

\u201cPrice is way way outside of the upper Bollinger Band.\u00a0 So be careful of a pullback inside of it here.\u00a0 A little sideways action and consolidation would be nice before the move to 11,500.\u201d<\/p><\/blockquote>\n

There have been no major corrections this year, just further consolidation followed by an upside movement. There is no doubting now though that whenever BTC does pullback, savvy traders and investors will be loading up which will catalyze the next wave higher.<\/p>\n

$100k Bitcoin in Play<\/h2>\n

Chart specialist Peter Brandt has taken a look at the bigger picture as BTC enters its fourth parabolic phase.<\/p>\n

\u201cBitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.\u201d<\/p><\/blockquote>\n

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Bitcoin takes aim at $100,000 target. $btcusd<\/a> is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other. pic.twitter.com\/wE4j3riMgI<\/a><\/p>\n

— Peter Brandt (@PeterLBrandt) June 22, 2019<\/a><\/p><\/blockquote>\n