BTC Not out of the Woods yet...
The bounce is nice, but we still need a lot more...
Bitcoin is currently trading over $36k, which is a nice bounce after hitting $29k several days back.
However, this bounce is so far just a bounce.
I am hopeful that it is in process of putting in a reversal, but as of right now, it's just a bounce.
It will be just a bounce until we break the $40k level and hold:
That area has been strong resistance ever since we broke through it back in Mid-May:
(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)
As of now we are still technically within the consolidation range between about $30k and $40k.
Which means, nothing technically has changed.
Though, if I were a betting man I'd say we put in the lows and its only a matter of time before $40k breaks to the upside.
That's exactly what I am betting on in fact as I loaded all I could in the low $30k's.
Once that $40k level breaks to the upside and holds, the bottom will be confirmed and the price is likely to race back towards those all time highs.
Bitcoin is a king crypto with seven layer of security. It will be good to save better lives in a long term.
I got my gloves on ready to catch falling knives
You and me both. It's been pretty blood so far!
Keeping my fingers crossed! LoL
This is just the beginning. I am sooooooooo ready
Beginning of a turn around you mean?
Well, it's constantly turning around. I mean, it's the beginning of a real upheaval.