CaptainQuickWit
Long

Next Bull run? Watch long term support.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Before we see another bull run we need to see equal supply and demand . The "low volatility" people are talking about looks more like the price coiling up which is worrisome. I would like my period of equal supply and demand more closely resemble sideways movement like at the end of the last bear market, not a triangle like what we are seeing now. But as long as we stay above the 6k support we are still bullish for the long run, we just need to be careful and make sure that the coiling price movements eventually smooth out instead of breaking down. While I do think btc is more likely to move up, the risk of the price moving lower cannot be ruled out.
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