BTC has been knocking on the 10K door for the last week or so no, bouncing up and down with the occasional break south thwarted by some hungry bulls. Last night/this morning that barrier was finally smashed which came as no real surprise to anyone. Many nay sayers out there call this the end of days for bitcoin without looking at the price.
BTCUSDT
is still pretty pricey as compared to the same time last year and while
ETHUSDT
is knock on the door for the number one spot BTC still holds on.
Since we have broken that major psychological barrier of $10k, where is the next stop on the downward roller coaster? where will the stand take place?
I think there will be a battle at $8.8k, just looking back at previous S/R lines 8.8 seems to be pretty significant. That said I don't think it will end there. More often than not after large spikes like nov/dec there will be correction, where does it correct to? the trend line is my guess. I think we will see a slow reversal at around $7800 and begin to make a slow recover to the trend line.
IMO this is a good thing, things that grow over night rarely last the test of time in this world and if crypto is to take a strong foot hold then btc needs to grow at a steady pace rather that living as a volatile entity.
BTCUSDT
is still pretty pricey as compared to the same time last year and while
ETHUSDT
is knock on the door for the number one spot BTC still holds on. Since we have broken that major psychological barrier of $10k, where is the next stop on the downward roller coaster? where will the stand take place?
I think there will be a battle at $8.8k, just looking back at previous S/R lines 8.8 seems to be pretty significant. That said I don't think it will end there. More often than not after large spikes like nov/dec there will be correction, where does it correct to? the trend line is my guess. I think we will see a slow reversal at around $7800 and begin to make a slow recover to the trend line.
IMO this is a good thing, things that grow over night rarely last the test of time in this world and if crypto is to take a strong foot hold then btc needs to grow at a steady pace rather that living as a volatile entity.