Bitcoin Now Tests the Bottom of the Range
(Edited)
Two weeks ago I posted about the price of bitcoin testing the top of the range, which we now know failed to break out.
So here we are now testing the bottom of the range.
Will it hold once again???
Looking at the chart you can see this 30k to 41K range is been holding strong for the past month. Eventually price will break out of it, the question is will it be to the upside or downside?
Right now price is testing the support, which marks the 4th occurrence and one thing I do know about support and resistance is that the more times it touches the more likelihood we see a break.
We shall see if price can hold again!
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I feel like we might test under $30k levels before we continue the uptrend. I haven't been shaken out of the market and still waiting for the euphoria stage to dump any long term holding. We haven't had that yet and every bull market so far has had such a stage and a blow off top.
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Let's just have it happen and get it over with :) Then we can start building back up! If you had to guess, which way would you say it is going?
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Under 30K now so guess I don't have to guess ;-) 28,600 I think is the line in the sand, closes below that then we likely see 23K at some point in the coming weeks.
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Yikes. It kind of makes you feel like it will never go back up again sometimes. Even though we know it will. Like you get that fatalist mindset for a couple of seconds.
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