This thing could go up, down or sideways. It may even travel back in time.
I'm thinking we could see an inverse head and shoulders or a double bottom before going up (or down(or sideways)). I have been making positions in the $8-9k area as I have a lot of long-term faith. Definitely possible to go back down to $7K area again, but I saw a lot of resistance at $7k and last night when we hit $7.5k VERY large buy order got placed. I think smart/institutional money will buy again at that price and keep it from falling into the $5k resistance area.
If the crypto super bowl commercial rumors pan out we could see a bump up in price.
I think even if the SEC hearing goes great for crypto everyone will still panic sell because the word government and crypto are in the same sentence.
Chinese new year is typically followed with an increase in volume and price, I expect history to repeat itself.
I'm thinking we could see an inverse head and shoulders or a double bottom before going up (or down(or sideways)). I have been making positions in the $8-9k area as I have a lot of long-term faith. Definitely possible to go back down to $7K area again, but I saw a lot of resistance at $7k and last night when we hit $7.5k VERY large buy order got placed. I think smart/institutional money will buy again at that price and keep it from falling into the $5k resistance area.
If the crypto super bowl commercial rumors pan out we could see a bump up in price.
I think even if the SEC hearing goes great for crypto everyone will still panic sell because the word government and crypto are in the same sentence.
Chinese new year is typically followed with an increase in volume and price, I expect history to repeat itself.