Despite my feeling that BTC would be visiting a lower level, as published before, I can't disregard the current trend strength, BTC is holding really well! Sustainability has to be seen in couple weeks, however BTC still making lower highs, which is a bullish sign on Classic TA.
Not making a stand, just a corrective ABC wave. C wave just started, and when it ends it will continue up.
Allenvik
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@alexyeoh, We are going for a hike down to scenario 1 that I have posted earlier, where I speculate that BTC will be visiting 7800ish, now... many say we will continue, I argue that we will have a positive bounce there to a new bullish trend.
birchgrove
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... and what if it drops, big deal. It'll be back.
Of course you are correct. Everyone has difficulty staying calm in this environment. The parent company of the NYSE has enough confidence to start dealing in crypto which is just one example of solid fundamental thinking. Major work is being done away from the spotlight.
That clown Buffett was wrong with Google and a whole stack of other tech stocks, he admitted he didn't understand, because he is the past ... a dinosaur trying to hold back the tide. Why would the established players like Buffet want change, of course not.
Allenvik
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@birchgrove, There is a lot of uncertainty on the crypto market since January, we have regain some confidence, however we can see how folks rush to see positions fast amid any pull back, that is why I despite the bullish higher lows, btc will revisit a lower level as I have suggested in a earlier chart.
Regarding Buffet and other big investors with an aversion towards cryptos and blockchain, it is clear that most don't really understand it, so I wouldn't expect them to invest on it either.