Bitcoin first significant support is at 7777

Point and Figure

Our long pole of X's has reached 17 X's at yesterday's close. Half of long pole of X's reach more than 17 X's in height. It looks like we are going to get a column of O's today. Anything below 7,933 will complete the 50% retrace of our most recent column of X's and resolve the long pole. We also have a unresolved long pole of X's from July 18, a move below 6,900 would resolve this.

We have found resistance at 62% fib, came down to touch trendline support. Stronger support is around 7777, where we have another trendline for support and where we had our big higher high against 6/3/18 horizontal level. Moving below 7854 would also resolve our most recent long pole on point and figure.

Not relavent to current price action but here's something interesting from my past I found while scrolling through old journals: I had 'forgotten' that bought bitcoin at the top of the 2013 bubble!

I wrote this note on 12/06/2013: I bought BTC when it was at $1050 near the top of the 2013 bubble.

The most interesting thing is I had totally forgotten I bought that high. I must have convinced myself I didn't sometime in 2014 in denial that I would lose so much. It was a lot of money to me at the time as I was still in college. Maybe I should be glad that I was able to forget how much I lost because forgetting allowed me to pour much more money into BTC later. The real loss was that during 2013-2014 bubble I put a large amount into LTC. The poor performance of LTC at that time soured me to all altcoins and when ethereum ICO was announced I didn't put a penny into it.