Could this be it? Did we drop a bouncy ball off the Empire State Building? Or did we toss is downward with force?
Image by 123rf.com
It is still way to early to tell but I will say that we were over sold for a long time, now we are not and currently the momentum is moving to the upside. I am not sure we will maintain this upside action but I am hoping we make it to 4700-4900 before the momentum stops then we can bounce down to 4500 and make a run to 5100. My prediction for the short term is bullish up until we hit the overbought indication on the RSI.
All of this being said, being that I did not get out while Bitcoin was on its 20k Bull Run due to not wanting to pay short term capital gains, my personal opinion is that the market will eventually make it back there and higher still, although it might take longer than I or others hope/anticipate. I will continue to HOLD as painful as it may be for the moment.
We still have many good things to look forward to in the coming months and hopefully they will help Bitcoin continue to tick upward and in my opinion once we hit 10k again the real Bull Runn will begin.
I am not a financial advisor and this is not financial advice, invest at your own risk.
With crypto, you never reqlly know what the price is responding to. Upvoted!
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