Bitcoin is going like crazy. It was in quite the strong rising channel all year, but in October it stepped things up a bit! It formed an even steeper channel in which it is currently trading. This morning it hit the 8050 euro at Kraken, and currently seems to be pushing against the top of it's channel. Other than this channel, there are no real indicators to think Bitcoin will enter a correction. Technical indicators seem fine, other than BTC clearly being in the oversold zone. Also, the flirtation with 10.000 dollar might trigger a sell-off. Or not. Hard to say with bitcoin.
If, for some reason, BTC decides to dive, I imagine it will retrace to about 6000 euro´s. That would be a 68.2% retrace from the growth since last correction.
I have a tiny bit of bitcoin. I´m holding it. Bitcoin has defied all logic for a while now ;)
If, for some reason, BTC decides to dive, I imagine it will retrace to about 6000 euro´s. That would be a 68.2% retrace from the growth since last correction.
I have a tiny bit of bitcoin. I´m holding it. Bitcoin has defied all logic for a while now ;)
Comment:
Wow... *throws papers and measuring tools in air*
