Community post
Bitcoin wobbles around $8000
In an earlier post I stated that for me to take this bull run seriously Bitcoin would need to hold above $8000. Despite it's current price being in that target range it hasn't manage to hold off falling through the resistant level (Although it was a brief slump and bounced back quickly).
This recent movement is quite distributing to me because up until this point Bitcoin has a had a strong rally with almost no resistance to speak of, but over the last few days the only thing keep bitcoin from slumping back to previous lows was this desperate price pump higher that could quickly fade out. I woudl advice caution here. If Bitcoin continues to stay above 8750, If it crumbles then expect a long stay at $7500.
(This is only my opinion and is not meant to be taken as investment advice. You are responsible for your own money).
Replies (2)
@austin101 Pretty good.
ha, it better be pretty good analysis. When you have thousands of dollars at risk like me you can't sit on your hands and hope it turns out okay. Always watch the market.