BTC Blazing Right Now... Can it be Sustained?
I didn't expect this to happen so quickly. Just yesterday, I made a post highlighting the fact that Bitcoin was at a critical juncture in terms of price and direction could be either way now. Well, that's been answered with a vengeance as we smashed through the narrow range I was looking at and have blasted into the heavens. Those Bitcoin maximalists and HODLers out there must be ecstatic right now, and who can blame them. This is great news, not only for the coin itself but crypto in general. So, what next?
What goes up, must come down, right? Well, theoretically speaking yes. But remember the "last" bull run BTC had? I think you can agree, if Bitcoin goes for another parabolic run, I'd hate to be the one attempting to short the market. No, the way I see it, sentiment has changed and fast. What are the chances we already hit the low at just above $3,000? Pretty damn high, I'd say. So with that said, I'd wait for a break of that level to get back into bearish mode. For now, I do believe we are at the preliminary stages for the next moon shot for BTC. Very exciting times all round.
I'm of the mindset that the next rally could potentially hit $100,000. I clearly remember a certain friend of mine some year ago, who laughed straight in my face when I said this figure could be achievable. Bitcoin was at $500 at the time. Can't wait to return that laugh with some much-needed extra spice and salt for added measure, lol. But I guess I'm getting ahead of myself. I'm convinced it'll get there but it actually has to happen first. And given what I'm seeing on the charts, we ain't that far off time-wise. Meaning within a year or so, would be a realistically assumption to have.
In terms of pullbacks, I'd look to around the 5,000 sats range followed by 4,300 sats. But as I mentioned before, I'd want to see the absolute lows broken for my views to change now. Good news all round. Well, actually, in regards to STEEM? We just gotta sit tight and hope. Although given how low we are in sats value as well as the fact that we broke all-time lows to not long ago, I'd think investing right could turn out to be a fantastic move. You know, blood on the streets and all that...
Fingers are crossed! I was happy to see alts slingshotting to catch up to BTC's recent gains overnight.
There are a few alts that look real promising as well as BTC. Things are certainly looking better now. :)
Let’s hope for a sustained rally. I was not expecting to see 10% gains so soon.
Posted using Partiko iOS
It's looking much more likely now. :)
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 9.15% upvote! Together, let’s change the world!