{"id":381790,"date":"2019-05-13T08:30:51","date_gmt":"2019-05-13T08:30:51","guid":{"rendered":"https:\/\/wncen.com\/?p=381790"},"modified":"2019-05-13T11:23:13","modified_gmt":"2019-05-13T11:23:13","slug":"pullback-expected-after-bitcoins-first-1000-weekend","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/pullback-expected-after-bitcoins-first-1000-weekend\/","title":{"rendered":"Following an Epic Surge, Analyst Expects Bitcoin to Pullback to $4,300"},"content":{"rendered":"
Bitcoin\u2019s epic surge over the weekend has brought some much needed elation back for crypto enthusiasts who have spent the best part of last year battered and bruised. The chart patterns playing out however look uncannily similar to previous market cycles so a pullback is expected.<\/p>\n
Bitcoin went parabolic over the weekend notching up its first $1,000 gain since 2017. By the end of last week BTC had out performed many of its brethren and had reached critical resistance just below $6,400. Unperturbed, ts surged past this on Saturday adding over a thousand dollars to reach a new yearly high of $7,480 by Sunday afternoon.<\/p>\n
The 17 percent gain sent BTC to its highest level since August 2018. According to Yahoo Finance<\/a>, \u201cAll five members of the Bloomberg Galaxy Crypto Index are up more than 8% this weekend, based on pricing from Bitstamp and Bitfinex.\u201d<\/p>\n As usual CNBC got it completely wrong again stating that BTC would pull back after breaking the $6,000 barrier<\/a>. The news outlet has become known as the best counter trading indicator in the ecosystem;<\/p>\n Bitcoin breaking back above $6,000, but @jeffkilburg<\/a> says buyer beware: it won't hodl here $BTC<\/a> pic.twitter.com\/GH3v7Vcr3R<\/a><\/p>\n — CNBC Futures Outlook (@FuturesOutlook) May 9, 2019<\/a><\/p><\/blockquote>\n\n