Good morning! The bounds of what trading took place yesterday were almost exactly what I expected. We stayed within the $6450 +/- $100 range, approximately, as I predicted the day before. However! How it did its thing was not how I expected. I thought there might be a slow rise and then drop like has happened many times. Instead, we saw a massive upswing, probably a whale and then a slide.
While others are calling this a natural rise, I debate that. The August 19th rise, as you can see, was rather sudden. When this has happened before, it's almost always fallen in the past month back down again. We have already slid, but if there's a sudden sell off, it could drop as low as $6100, If there's a massive whale tail slap, we could drop more.
I am becoming less convinced of $5k by the end of the month. I think at this point, barring some major news, we are going to see some stability until September when we will start seeing a long term rise, at least through January. Then probably a fall and slide until later spring.
All of that is subject to the whims of whales. Their tail slaps shatter all our little boats if we swim too close. So be cautious!