Post
Topic
Board Speculation
Merits 5 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Majormax
on 05/02/2020, 00:44:32 UTC
⭐ Merited by El duderino_ (4) ,Cryptotourist (1)
It's very nice how $9K is holding (for now) and people don't give a shit about it anymore. Slowly stepping and maintaining price without any FOMO signs sounds great. Even a little retrace would not do any harm right now.

While holding $9000 is welcome the daily BBands are sloping up so many traders are going to be looking to buy if price drops to the middle BBand at $8900.

Which basically "confirms" there is good buying support for a little retrace. And probably even more support for a bigger one. Also it is not as if sellers were pilling up to sell. Much the contrary.

I want to see the price over $10K as much as everyone else... but I love how smoothly the price is rising step by step and doing the proper retests.

Looks good so far.

Boring is best. A little more time to establish support at 7900 might be needed. ..then a few months to get back through 9xxx. would be the most sustainable way forward. Another spike like last Jun/Sep would not be a good sign.

10500 is the first real resistance, and it needs to be taken real slow. So far, so good.