Hello fellow Steemians!
Because there are two scenarios facing each other ...
1. Either BTC will go to 8500 $ and then quickly down.
2. Or it will go to 7800 $ and then quickly up.
... who buys BTC, he usually does so to sell him at 8500.
And who sells BTC usually does so to buy it at 7850.
The result is the price that oscillates in the middle of these two scenarios.
However, at the same time, the price still reflects from the descending trend line I drew on the Bitstamp chart. That she would break it?
But maybe we can not help. Because it is again that either it will continue to reflect and thus gradually decrease. Or once it goes through and goes up.
But it is again a chance of fifty to fifty.
Anyway, as I wrote last time, after the last bubble the price stabilized on the surface by 30% higher than the bottom. And this stabilization was the beginning of the new growth cycle. Currently it would be $ 7800.
The amount of purchase orders at this level suggests a strong belief that the price should not go below.
Personally, it seems to me that it is a likely scenario that the price could closely follow the downward trend to $ 7850. There she could make sure she could not do it anymore, and she could make corrections after exponential growth.
However, there is a need to see that until people have real anger about where the price has fallen, it is not possible to talk about the final end of the bubble correction, on a psychological level.
Altcoins now follow the BTC in a way that they are more likely to wait for what will happen. This stable crypto market is not very visible. Otherwise, the stability of the BTC should serve aliens, but the uncertainty of general growth does not stimulate much.
Paulinho