BTC spikes when it need to
Today BTC spiked when it needed to. We broke out a few days ago and now have confirmed a former downtrend as support.
I am very bullish on btc now and figure the bottom may be in.
- We had a tripple bottom very close to .23 /60 fib
- We have started a new impulsive wave up and are about to start wave three. This one is usually a good one.
- We are making higher lows as we move up
- MACD, RSI have turned
All this makes me think we may be turning around. This would be ultra strong, as I expected a crash to much lower level. If this holds it means BTC has matured a lot and lots of fundamental value is keeping the price of BTC high. Lets not kid ourself 7-8k for one btc is a lot!
If we are lucky we are going into the S part of the S-curve which would mean a crazy run of btc towards 1M and probably to the real BTC bubble that will be bigger than dotcom by a magnitude. If this is going on soon than MCAffee may be right with his bet. I think it seems a bit too optimistic and we are still working out what to do even in this year.
Keep in mind that smart people like Ton Vays believe we are going to 1k still. If that is the case we may be in this bear market for another year. We have been in this downturn for about 6 month now.
I wish you all good luck!
Downtrend should be over soon :>
I would really love to say the bottom was hit but I'm still believe we will go lower. I for myself do not see the low at 1k like Ton Vays but I can see it still hitting lows of 4 - 4.5k this year.
Let's just hope I'm wrong and we will see the long wished bullrun!
@knircky has set 1.000 STEEM bounty on this post!
What is a bounty exactly?
A bounty is money sent to a post to be distributed to the users commenting on it. It provides a way to reward users directly and works in addition to the steem/sbd they receive from the blockchain. It works independently of SteemPower.
You create a bounty by sending any amount of sbd/steem to @steem-bounty together with a post-url in the memo.
How can I earn a bounty Users are then competing for the bounty by writing their answers to the post in comments that will achieve upvotes from the community and especially the bounty creator. The money of the bounty gets distributed to all top level comments of the post at the same time when the post is paid out (7 Days after it was written). How much everyone gets depends on the votes the comments received. The sender of the bounties votes are weighted higher so that she decideds where 80% of the bounty money goes and all other votes determine the rest.@steem-bounty does all of this for you automatically. You can use this service to automatically pay out a challenge, ask a hard question or simply to reward the people that interact with you.
Read more about how it works, even in different languages here.
Congratulations to the following winner(s) of the bounty!
Lets pray BTC goes up
Gotta be patient, it will raise at some point.
short term
Well many say that if you expect it to come much lower, but it seems to stay, however, although I can lower more than this level, if I think it will rise much more. But it is uncertain to give it a number of days or weeks.
I believe we are moving lower, there will be a few corrections to the upside, but overall we are going lower. Big institutional investors need time to buy up BTC without increasing the price. I believe mid-term we should stay short.