Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I've been feeling that the price jump has been built on FOMO speculation for a while now. I think that the real, solid base is around $6k (roughly following the longer-term linear trend), but I expect speculators to stabilize it if it reaches $10k, at the very least, and then those prices might or might not stabilize.
So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.
So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.
Surprisingly, I have seen a lot of bearish posts from you, Theymos, since about $2.6k-ish? I think that the renegade hardfork (Bcash) threw you off, and also perhaps too much credence to the impact of the Segwit2 proclamations.
Seems to me that BTC buying support is likely stronger than you are making it out to be, and we will be testing ATHs again. We have fuel coming in from the various ICOs and alt pump and dumps and even the hardfork pump and dumps.
At this time, I suspect that buying support will get wobbly in the $35k region, perhaps.
