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RE: Red Light For Bitcoin

in #bitcoin5 years ago

Bitcoin went up through multiple resistance points without so much as a pause. 10 days of gains is a lot. That the price did not test those resistance levels between 4-5K showed very bullish strength. I look for bitcoin to have one really hard downdraft before getting through 6000, perhaps dipping back into the 3000s, putting in a double bottom. That would be painful, but shaking out the weak hands would be beneficial to the long term health of the bull.

A bull market, on its way up, will try to buck everyone it can off. As bucking goes, today is pretty mild.

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I wouldn't mind to have a $3,000 dip. I just wish to have a 2017 like December and new ATHs this year...if possible.

My best (marginally educated) guess from what I see and read is that ATHs will probably be a 2020 thing. But some things ARE different this time. Getting into crypto and back out to USD is much easier. The FUD doctors in the media are going to sound out of touch with history this climb up. General acceptance and knowledge off crypto is MUCH higher then 2017. All of those things could cause things to happen on an accelerated time table, I think.

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