Bitcoin has traded in a range between about $2,100 and $3,000 ever since hitting a record high of $3,025.47 on June 11, according to CoinDesk.
Uncertainty about the future of bitcoin itself has kept prices in check lately. Updates to the bitcoin network scheduled for release in the next several weeks could split the digital currency in two if developers don't agree on how to make the updates compatible with each other.
To be sure, Jafari said, "fourth waves tend to be messy/complex," meaning bitcoin could continue trading in a range and potentially fall close to $1,857 before recovering.
On June 12, Jafari said in a note — written "due to popular demand" — that she was "wary of a near-term top ahead of $3,134." She said traders should "consider re-establishing bullish exposure between $2,330 and no lower than $1,915."
Full story at http://cnb.cx/2sjPqHa
Source: CNBC
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