Shorts are creeping to the upper range. Bitcoin price moves very unpredictably and we need to set aside our egos and be completely objective which is extrodinarily difficult to do. Large holders have a heavy hand in this market and can steer it around. They power over the rest of us in terms of their abilities to move the price point, as such we need to think like -- if I was a whale how would I try to control this market...
There's good and bad hitting 20 K so easily though and we could potentially see a collapse and a return to lower prices. Historically, the 6 months leading up to the halving dates have been periods of consolidation and more moderate prices. We'll see I guess... if it does beak above 20 K with good volume and indicators look positive I see a next bubble cycle topping between 85 and 100 K. Tough to day trade such an asset so heavily controlled. Mere mortals such as I are happy to hold.
There's good and bad hitting 20 K so easily though and we could potentially see a collapse and a return to lower prices. Historically, the 6 months leading up to the halving dates have been periods of consolidation and more moderate prices. We'll see I guess... if it does beak above 20 K with good volume and indicators look positive I see a next bubble cycle topping between 85 and 100 K. Tough to day trade such an asset so heavily controlled. Mere mortals such as I are happy to hold.
Shorts have fallen to the established baseline