I believe $7,500 is the new bottom. People who bought Bitcoin at $7,500 last summer are just in the even or starting to make profit. Of course, if you have been buying since $3,000 then you already made your money. As long as a whale does not decide to sell now to buy a lambo, I believe we are ready to hit $10,000 on the next leg up.
I am expecting a pullback at some point. Otherwise, looks like the uptrend is continuing its momentum. I rather buy and hold & accumulate as much as possible.
Bitcoin has reached resistance, which was a previous strong support until someone bailed out. Only way over this wall is with increase adoption and usage. As satoshi's, we must help by spreading the news, especially the poor nations. Let them have three tv's, a Tablet, Laptop, and two smartphones as well to enjoy mother earth. Spread love is the Brooklyn way!.
As I pointed out a week ago, Bitcoin has bottomed out around $3,000 and has since been going up in price. Based on Technical Analysis, Bitcoin has not only broken resistance at $4,200 but surpassed my prediction of $4,500, and went even higher to $5,000.
Based on the daily chart, it looks like Bitcoin's support level of $6,500 range is being challenged for a 4th time in the last six months, Or we could just be forming a higher low now. Time will tell
