Short term high target for BTC reached. I'm expecting some selling pressure right now. Don't get me wrong. I'm forever bull on BTC. But now we've entered in a small selling wave in my count.
What comes fast goes fast, i think that bitcoin price was really pumped last weeks and it was really high (~190 USD) and now the price is getting back and maybe lower than $600. Maybe because of this selling pressure the price is getting lowered, actually now the price should be increased before the halving.
Now the price of
BTC shows inverse correlation to ETH. After the recent black hat DAO attack done by last Friday,
BTC prices doesn't effected much and even increased in price for a while. Yesterday counter-attack held by white hats (mostly Robin group) gave negative effect on
BTC and selling pressure. It could be a reason attacker hold many
BTC and shorted ETH and long the
BTC. So now ETH/BTC charts become so important. Anyway, I guess
BTC entered in a channel of 500 to 700 usd.