Tick-Tock Bitcoin Winds Up For a Pop?

Bitcoin has continued its range bound action since my last post discussing it, essentially coiling up as the range has narrowed and we come into the last couple months of the year.

Coiling for a Pop?

Given the last three years have seen a push higher in cryptos in the months of November and December many are saying that this range of late is Bitcoin gearing up for a pop higher.

This very well may be true and I hope it is. Like the saying goes - play it till it breaks, and the late year rally trend has worked the prior three so as a trader I basically need to place your bet.

News without the Go Go Go

It is interesting that there has been quite a bit of positive crypto news in the past week and it has provided no catalyst for a move higher.

We say TD Ameritrade announce they are entering the crypto space as well as Ivy League School Yale University (which by the way has one of the best investment managers in history handling their endowment fund). These items amongst some other did nothing to spark price higher though.

What Lights the Fuse?

Most people are waiting for Bitcoin ETFs to send cryptos higher, but really do we need a set catalyst. The prior three years did not always have some clear reason for coins to soar into the end of the year.

There are plenty of theories, many have to do with China money pouring in regard to their holiday period.

Either way, I don't mind the sideways consolidation. Let's just hope it breaks to the upside.

You can see the lines in the chart below. Simple as that - we break the higher line or the lower.

Steemit_txtdvidr.png

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Disclaimer: All info in this post is my opinion and for informational purposes only

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Bitcoin is in a coma

The chart feels more of a potential break in support and a great fall is coming. It touched the support four times already, and the latest bounce was a lower high. I am likely totally wrong and that is why I am a bad trader. I have to change my perception and interpretation on reading charts. lol. I still like you positivity on btc rising. Thanks.

I have been trying to give you 100 BTS for the prize you won, but I didn't get your bitshares name yet.

http://cryptofresh.com/u/scaredycatguide doesn't exist.

Please let me know here (or by email to [email protected])

Oh sweet, somehow that slipped my attention. My Bitshares account name is: mitch-18

Thanks man!

Interesting to aee this tight range... I am surprised neither side trying to influence price levels over the weekend to try to take out stops on either side!

sometimes anticipation is exquisite, sometimes it is killing. This time I think it's positive to consolidate a little more

Agreed, I am all for it building a base here.

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