About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...
Indeed, that was definitely 1 entity, aka inorganic. Doesn't definitely preclude any final short-term outcome towards bullish or bearish however - there's more variables that need to play out yet.
you guys think this the start to a new bubble?
Would have to dig out of trench around $480 first, then eventually move up on growing volume to get past $510 resistance. At that point I would confidently say we've started a new uptrend.
Until then, no.
+2
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