Published On: Thu, Nov 30th, 2017

Bitcoin Price Analysis: A Potential Correction Could Be Coming

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The market is swinging to more and more aggressive highs as bitcoin has traversed down the length of the macro, parabolic bull market. In a very rare event, bitcoin actually managed to break the upper parabolic curve and squeeze out a new all-time high in the upper $11,000s:Figure 1: BTC-USD, 1-Day Candles, Macro Parabolic TrendAlthough bitcoin broke the parabolic trend on the smaller timescales, the chart above shows that bitcoin is still being governed by the parabolic resistance — an outlier in an otherwise parabolic trend. Something very important to note about the parabolic breakout is the amount of volume …

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