Bitcoin Price Forecast 8/15/2017

Bitcoin is the Juggernaut! Current MC: $137B (-$2.2B) and BTC dominance 50.8%

Another fantastic day for Bitcoin as all time highs were crushed again pushing the record up to $4430 now. Afterwards we saw a slight correction back to $3832 only to rebound to the $4100-4200 range again. I don't think BTC is ready to take a break just yet and we should see some more FOMO which will push the price back up by tonight again.

In today's chart you will see that we had several large red candle sticks where investors were doing some profit taking. Support has held up at $3830 and should continue to hold strong there as we set up for the run towards $5K. I predict ranges to tighten up again between $4000 and $4200 before we head to the next breakout. Prices should hover around $4150 until the volumes pick back up which they inevitably will.

Likely Scenarios:

• BTC holds steady between $4000 zone and $4200 zone until tonight
• BTC breaks past $4200 and continues its upward bounce off the moving average headed toward $4400 again
• Volumes pick up and we jump to new highs again by tonight

TLDR Version:
Bitcoin is still running HOT as the bulls just won't let up. The combination of geo-political conflict with increased investor confidence in the technology has led to an unprecedented rally which doesn't seem to be coming to an end just yet. Expect prices to hold steady above $4K today as we rally to new highs by tonight.

Price Target:
$4570

*Never invest more than you are willing to lose and always do your own research before making any investment decisions.