I know people are expecting a drive up to 10K before turning south. It will need to break apart the apathetic triangle right now. $8.5K seems to be a test point.
As you can see the longer term pitchfork preceding last year's price boom, we are on track for bull market. However in our dropping-knife condition, trading is dangerous on the short term.
Since all investment pricing is determined by traders, I see short term direction heading south, determined in the next few hours. If trends cannot create a taller ceiling, and will continue to fail to pierce 9K, we will dip lower, probably back into the 7K area.
This is great news for accumulators; I will write more about the technological prospects for BTC, which will drive very violent price shifts upward later this year. Watch companies such as nChain, Twitter accounts associated with Craig Wright, as well as announcements from Lightspeed network project, Blockstream, now accounting for innovation in the BTC space.
Good luck and BTFD
As you can see the longer term pitchfork preceding last year's price boom, we are on track for bull market. However in our dropping-knife condition, trading is dangerous on the short term.
Since all investment pricing is determined by traders, I see short term direction heading south, determined in the next few hours. If trends cannot create a taller ceiling, and will continue to fail to pierce 9K, we will dip lower, probably back into the 7K area.
This is great news for accumulators; I will write more about the technological prospects for BTC, which will drive very violent price shifts upward later this year. Watch companies such as nChain, Twitter accounts associated with Craig Wright, as well as announcements from Lightspeed network project, Blockstream, now accounting for innovation in the BTC space.
Good luck and BTFD