Consolidation continues. bulls have not made a move and are letting the range fill and it seems as if we are at a standstill. bears have not been able to position a decent move as we are below the 3 dollar mark where they lay, waiting. it does appear that the longer that we can hold this support just above 2.50, the more stable we will be in the long run. 3 dollar is a huge psychological level and it is also in the ballpark of the 2 billion dollar market cap. both of these levels will need to be conquered before any big moves up. i would not mind pulling back even more but it appears that we are not seeing any huge sellers. so for now we range. shakeouts in uptrends not only show up as large pullbacks, but they can be extremely long sideways movement that just bores buyers into capitulating.
Dominance is creeping up for Bitcoin, that is why altcoins have been bleeding out over the past week. but i have no doubt that it will reject and when it does it will pull back hard. There are many psychological games going on atm. however i will take any pullbacks as buying opportunities. because once we do pass 3 dollars, and i have no doubt that we will, 5 dollar and 8 dollar marks will be in our sights very quickly.
Dominance is creeping up for Bitcoin, that is why altcoins have been bleeding out over the past week. but i have no doubt that it will reject and when it does it will pull back hard. There are many psychological games going on atm. however i will take any pullbacks as buying opportunities. because once we do pass 3 dollars, and i have no doubt that we will, 5 dollar and 8 dollar marks will be in our sights very quickly.