There is a very real struggle going on right now.
BTC falling below 10k was not a great sign, there was real concern the bears were taking over and the usual tulip brigade was out loud and proud declaring BTC dead, this time, once and for all.
Next thing BTC smashes back through $10K flipping the bird to all and sundry in the bears corner.
Sadly (or not) I think the bears will have more to cheer in weeks to come.
BTC has failed to make a new HH and has made a number of failed attempts to break $10800 in doing so. It's having another shot now but doesn't have much steam.
If BTC fails to hold the current trend support the next support is found at $9,600 and a more significant support at $8900. A fail to hold the $8900 support could see us back o the $7-6k range.
Conversely one could argue a head and shoulders pattern has formed on the longer chart and $13K here we come. They would could also be right.
PS: I'm 15 years old drinking bourbon listening to cold chisel and smoking weed. Taking financial advice from me would be batshit crazy!
BTC falling below 10k was not a great sign, there was real concern the bears were taking over and the usual tulip brigade was out loud and proud declaring BTC dead, this time, once and for all.
Next thing BTC smashes back through $10K flipping the bird to all and sundry in the bears corner.
Sadly (or not) I think the bears will have more to cheer in weeks to come.
BTC has failed to make a new HH and has made a number of failed attempts to break $10800 in doing so. It's having another shot now but doesn't have much steam.
If BTC fails to hold the current trend support the next support is found at $9,600 and a more significant support at $8900. A fail to hold the $8900 support could see us back o the $7-6k range.
Conversely one could argue a head and shoulders pattern has formed on the longer chart and $13K here we come. They would could also be right.
PS: I'm 15 years old drinking bourbon listening to cold chisel and smoking weed. Taking financial advice from me would be batshit crazy!
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