The last month of price action on bitcoin has been quite the emotional rollercoaster!
After months of 60K being a "bottom" we saw price crash through it only to rally back a week later after dipping into the low 50s.
Then two weeks later we get essentially a crypto crash following a huge sell off in the U.S. stock market.
This again took price well below 60K and even touch down near 49k before seeing a big reversal that took price above 60K once again, but just in the matter of days.
And that is where price floats currently, just above 60K.
A wild ride to nowhere...
When you look at the daily chart above, basically it was a wild ride to nowhere. Now, if you were lucky enough to grab some bitcoin in the low 50s that is feeling good at the moment (cat did grab a little down at 51,700, but I stress a little).
Where we go from here is anyone's guess though. Is price consolidating the past 48 hours just above that key 60K level to make another push back into the mid 60s????
Or will we see the sellers come back in and take price down to that last pivot low and test 50K???
Flip a coin is how I feel at the moment. Regardless, I'm HODLing and stacking when I can for the long-term.
Posted Using InLeo Alpha