BitcoinLong
AMAZING, For All The Doubters, We Are STILL In An Uptrend.
I went to bed last night at 2:30am, after seeing history made as $15,000 bitcoin was hit. Woke up to see it had gone to a high of almost $20,000 and dropped a bit.....and that the fibs I drew were obsolete less than a few days after creation.
To say we are in uncharted territory is an understatement, but so far, we are STILL in an uptrend.
50 MA still angling up.
Now that being said, I think we are overbought, but still not going into crash mode or anything like that. The market is trying to figure itself out. I’m seeing fluxes in prices and spreads in $100’s of dollars on my charts as buyers and sellers battle each other, and the last time this happened was when we hit $10,000 and no one wanted to be the guy who bought at $10,001.
It’s actually a good sign.
The stochastic has turned down a little but there is no confirmation from MACD. In fact, MACD histogram is so strong in momentum that any pullback will certainly be shortlived.
What we could see is the green line on the MACD angle down to confirm the stochastic and that would mean some consolidation at these prices. but then prices resume going higher after some shake out.
Next year we will see higher prices, but for now, maybe a short rest, then Wall Street comes in, and after we get our sea legs while we figure out their circuit breaker system, I see a steady price of $25,000 by first quarter 2018, maybe even February.
Bitcoin is strong. HODLING!
To say we are in uncharted territory is an understatement, but so far, we are STILL in an uptrend.
50 MA still angling up.
Now that being said, I think we are overbought, but still not going into crash mode or anything like that. The market is trying to figure itself out. I’m seeing fluxes in prices and spreads in $100’s of dollars on my charts as buyers and sellers battle each other, and the last time this happened was when we hit $10,000 and no one wanted to be the guy who bought at $10,001.
It’s actually a good sign.
The stochastic has turned down a little but there is no confirmation from MACD. In fact, MACD histogram is so strong in momentum that any pullback will certainly be shortlived.
What we could see is the green line on the MACD angle down to confirm the stochastic and that would mean some consolidation at these prices. but then prices resume going higher after some shake out.
Next year we will see higher prices, but for now, maybe a short rest, then Wall Street comes in, and after we get our sea legs while we figure out their circuit breaker system, I see a steady price of $25,000 by first quarter 2018, maybe even February.
Bitcoin is strong. HODLING!
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