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RE: Bitcoin (BTC) Morning Update: Two Paths but Same Destination
Price found buyers at $7600 and has been basing the last couple of days. In order for price to move up, we need to see a candle close above $8600 on the daily chart. If price is able to achieve this feat, the buyers must then take out the sellers at $9000.
If the sellers remain in control, we could see price test the $6000 level again, which would be a buying Bitcoin at an extreme discount which was the origin of the huge move that took price to $20000 and where price bounced back to $12000. Thus, this level would be the best level to buy Bitcoin for the long term.
There we go. Double bottom. People don't want to believe it. People should look at the alt coins for better % gains. Once the correction is over and you spent a couple grand on those coins you'll make great money. Could even pierce 6k good but the discounts will be great.
Yes, I do not want to believe that we are going to hit the $6k level again. 😉
Same here. Ripple under .5 too. The week and days are still closing lower. Nothing bullish about that atm. A Bitcoin day close below 6812 isn't good for Bitcoin bulls. The week close is a lower week close of the year. Not a bullish signal.
I think it depends on what alt coins you're talking about. I'm seeing ICOs and new alts coming out all the time. People are still trying to get into the space even after the recent bubble. I think once these alts that are coming in kind of fizzle away and the remaining legit coins are still around, then the market can shift back up, and those good alts to bitcoin will rise. I'm looking at Ethereum and Litecoin to get a boost as things settle, but also EOS and NEO.
The bubble is not over yet.
Unless a coin is a scam you can bet they'll reach the old highs at least. So it's simple math. Lots to pick from. But this time instead of wave 5's being hit on the old highs and falling it will be a lower wave number. I'm looking for continuation after the old highs. Not double tops. Could it be a wave 1 taking us to the old highs? Don't be shocked. I'd love that. Everyone would.
The day ranchorelaxo starjuno or yourself does not vote one of this post: your followers, steemit and the world will see what is your
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