Bitcoin settling at its short and medium term Point of Contol
Big picture the price action for Bitcoin is compellingly bullish however on shorter term time frames the picture is not as clear.
The medium term (bigger) profile has a more Normal or Bell shape indicating a more balanced market, whereas the shorter profile looks decidedly "b" shaped indicating more sellers than buyers in the time frame since the Elon inspired spike.
If the next distribution is down, it will bottom below USD$29500, more likely USD$25500 as that would test the entire medium term distribution.
Upside, price would have to clear USD$41000 which I am sure will happen one day, but not necessarily imminently.
The medium term (bigger) profile has a more Normal or Bell shape indicating a more balanced market, whereas the shorter profile looks decidedly "b" shaped indicating more sellers than buyers in the time frame since the Elon inspired spike.
If the next distribution is down, it will bottom below USD$29500, more likely USD$25500 as that would test the entire medium term distribution.
Upside, price would have to clear USD$41000 which I am sure will happen one day, but not necessarily imminently.
Capital can always be turned into income. It is not so easy to turn income into capital.
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