Bitcoin: Almost ThereI've read a lot of concern about the psychological $10k barrier for bitcoin. I'm not concerned at all in the short term. Bitcoin is at a point where its 18 month bottom trend and 4 year downward top trend are converging, and something has to give.
Last week, it definitively broke downwards from a 4 month trend, but has held the 18 month bottom line. If this continues to hold, Bitcoin will break above the 4 year downward top trend and "level up", without having to definitively break $10k for a good two more months.
Once the 18 month bottom and 4 yr top cross, it's possible the 4 yr top will become the new bottom trend for a couple of weeks, and the 18 month bottom will become the top. Doesn't matter much - bitcoin will still be on the other side of the 4 year down trend and in new territory, and it's more buying opportunity under $10k until it breaks out. If $10k is broken definitively before then, it likely won't be back below, except for some flash dips courtesy of Bart Simpson formations and futures liquidations.
Stack those sats, and remember: TA is BS for BTC, but it's still fun to draw lines all over the place.
