BTC/USD
I'm still thinking this channel bitcoin has been trading ever since it started trading pretty much, holds its ground and will remain valid unless we break down from 5,000. As you can see, by the end of October, support in the channel is around that price, we can of course touch it in a fast dip, but if it breaks down that channel it means serious trouble. One that can set a new trend for years, not days, weeks, months...YEARS. That is if we focus in the lower band of the channel. I believe market makers made this channel and they confirmed it with January's pump. But 2013 pump I think established another channel once price is ready to start exploring it. That's why we have hope up, but if shit goes down, below 5,000...we might be on our way to discover where is going to be the bottom of this new lower channel, meaning that price will do something like the peak in 2013, but to the opposite way: to the ground. What will be this new ground if we break down? We still have until January for prices to stay at this level so if this is as low as bitcoin will get, I'm pretty sure we'll get another alt season before bitcoin decides where its going. What do you guys think?
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