I see at least a possibility that bitcoin has now embarked on a new steep uptrend line similar to the time frame of March 2013.
There are points of evidence that the current price action will continue in classic uptrend style price action that is persistent and pushing higher consitently and then evolving into runaway price action.
The bear market of first half of 2018 in bitcoin has somewhat of a formation of falling wedge or triangle which supports the theory that we have seen price compression which can lead to a strong and persistent price move up.
The key questions are how long will the price stay persistent?
Will price evolve into runaway price action from the uptrendline ?
Will the there be a stopping point to price in the 11,000 to 13,000 range that then resumes the bear market or will price continue to rally into the end of the year reaching previous highs ?
Stay tuned....
There are points of evidence that the current price action will continue in classic uptrend style price action that is persistent and pushing higher consitently and then evolving into runaway price action.
The bear market of first half of 2018 in bitcoin has somewhat of a formation of falling wedge or triangle which supports the theory that we have seen price compression which can lead to a strong and persistent price move up.
The key questions are how long will the price stay persistent?
Will price evolve into runaway price action from the uptrendline ?
Will the there be a stopping point to price in the 11,000 to 13,000 range that then resumes the bear market or will price continue to rally into the end of the year reaching previous highs ?
Stay tuned....