Price rejection at $10,500 from longterm weekly bearish trendline. Possible consolidation at $8500. Short term green trendline was drawn over two weeks ago. 200 MA and longterm bearish trendline are converging to a point where Bitcoin's future will will be decided. The MACD is positive, however I speculate that this second impulse may be weaker than its first allowing for some price stability around $8500, as the last of the longterm bears try to fight off the new bulls. This could privide a final oppurtunity to invest in bitcoin at prices below $10,000 if you believe bitcoin has a future. Perhaps in the next few months the public will decide whether bitcoin will succeed or not.
My investment strategy is long because I believe bitcoin does a good job at holding fiat currencies accountable to each other. I believe bitcoin's SHA256 and Proof of Work algorhythms make it one of the most accountable assets a person can own in today's modern economy.
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Price rejection at $10,500 from long-term weekly bearish trendline . Possible consolidation at $8500. Short term green trendline was drawn over two weeks ago. 200 MA and longterm bearish trendline are converging to a point where Bitcoin's future will will be decided. The MACD is positive, however I speculate that this second impulse may be weaker than its first allowing for some price stability around $8500, as the last of the longterm bears try to fight off the new bulls. This could provide a final opportunity to invest in bitcoin at prices below $10,000 if you believe bitcoin has a future. Perhaps in the next few months the public will decide whether bitcoin will succeed or not.