As I said in previous posts, we will not go below 6500 again and we didn't even after last nights test. Going under 6500 would be a massive support-line break. At that point all hell would have broken lose and the bottom would have been some insanely low number losing thousands of dollars in price. The market cap of bitcoin would have sunk perhaps in half and would have taken all altcoins down with it (even harder). But the support-line held strong and we're on our way back up. Once we head back over 7000 dollars, mark my words, we will NEVER GO UNDER 7000 again! This is your last chance to buy Bitcoin at this price. I hope you moved in time..
The rest of June, and July, will be very exciting months :)
This bull run may break us out of the pennant in a swift move taking us to the 10's of thousands. A more conservative estimate though may have it take us to the 9000s and then drop us down to 7500 before finally stabilizing and shooting up.
Given where volume has been, I'd say that we're headed for the latter so you can still make money as a high frequency shorter... if you have that kind of time.
I WILL KEEP UPDATING THIS. Follow me for updates.
The rest of June, and July, will be very exciting months :)
This bull run may break us out of the pennant in a swift move taking us to the 10's of thousands. A more conservative estimate though may have it take us to the 9000s and then drop us down to 7500 before finally stabilizing and shooting up.
Given where volume has been, I'd say that we're headed for the latter so you can still make money as a high frequency shorter... if you have that kind of time.
I WILL KEEP UPDATING THIS. Follow me for updates.
Comment:
Holding steady, support is consolidating.
