Bitcoin Update: All roads seem to be pointing towards $8000!
All roads seem to be pointing towards 8k (see chart below)!
Greetings my friends. The bulls did not even have enough strength to push us over our 12.6k resistance. Sissies they are. Needless to say, this helps to create a new pattern, a descending wedge (purple). Once again, the end result and final point of the wedge is around 7.5k. Looks like by the time our 200ma moves up and intersect with the wedge, the channel, and another significant trendline, it will be at around 8k.
Unless there is good news from South Korea, this seems to be where we are headed. I am starting to believe this more and more.
Good luck traders. Don't forget to manage those risk wisely. Use safe trading practices. Never go all in or all out at once. Cast your buy and sell ladders. And for God's sakes, diversify. Bitcoin is not the end all be all. It only leads the market now because it's all the noobs know and can understand. IMO, there are superior blockchain technologies out there. Do your research and support them too!
bitcoin heads for 8,000 we're in trouble here holding steem :) the coins seem to follow the price of bitcoin unfortunately. Will be great one day when that doesn't happen