Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Maybe the bears can regroup and try again, but if we get into the $2,700s then the bears are going to have difficulties reversing this train... Agree? .. so maybe currently, around $2,700 and below is the area to watch for a possible reversal?
Well maybe to look at it another way, I'd say that buying pressure would need to breach the ~2600 mark with considerable force (rising volume) to consider us still in a bull run at this point.
This is an area in which reasonable observers can have a reasonable difference of opinion.. and both be kind of correct.
The problem that I have with suggesting that that resistance would be very strong in the $2,600 arena is because we were just in the $2,700s a few days ago.
And there was pretty decent trade volume in the $2,700, and that trade volume only increased when the price got pushed below $2700 and the past couple of days that there have been ongoing attempts to push BTC prices down... so in that sense, I am of the opinion that $2600 is not going to be as difficult as $2700.
On the other hand, we do have the continued and shitty dynamics of the pump and dump alt coins that could continue to have a dragging down affect on bitcoin... but maybe they are going to continue to pump the alts and everyone can just get pumped together combining the pump of the shit and the non-shit..
