Hi guys, in my previous analysis I stressed that BTC is climbing and that it shouldn't fall below 9250 USD range which it did, in my opinion partly due to some FUD attempts recently by Warren Buffet and his gang etc. However, we are seeing the recovery thanks to some support from Chamath Palihapitiya and of course the bulls contuning support.
Next week will be a critical week as the upcoming conference CONSENSUS starts, we shall see some volatility and predicting that the post effects will increase the price more, until we have a short term calm till the next run.
Last year, we saw a similar pattern and the hype died down when the BTC fork happened. This year we have the IMF decision in July so again I expect some worry to effect the price slightly around that time.
Overall I believe we are approaching a good week, EVEN IF the trend fall below the current bottom resistance due to unexpected FUD, I believe it will shortly jump back up and start running. So if you are thinking to get into BTC now as a new investor, its not such a bad time to do so. Remember, DYOR.
Next week will be a critical week as the upcoming conference CONSENSUS starts, we shall see some volatility and predicting that the post effects will increase the price more, until we have a short term calm till the next run.
Last year, we saw a similar pattern and the hype died down when the BTC fork happened. This year we have the IMF decision in July so again I expect some worry to effect the price slightly around that time.
Overall I believe we are approaching a good week, EVEN IF the trend fall below the current bottom resistance due to unexpected FUD, I believe it will shortly jump back up and start running. So if you are thinking to get into BTC now as a new investor, its not such a bad time to do so. Remember, DYOR.