Let's look for another sharp pullback to the classical fibo support zone ($9986.80 - $9557.10) and then a breakout to the upside. We can try to catch the bottom (if you're a risk lover) or fetch the BO at $11900.60. Targets to the upside are noted on the chart.
I wonder why you wouln´t short BTC when max. target is reached?!?
Trader6127
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@CryptoLino, BTC is still very bullish. We'll evaluate price structure and go from there.
astrologychick
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How can something go vertical, and keep going vertical and never seem to stop. What are the fundamentals that support this?
Is it going to go straight up to 100k without stopping? How is this possible?
Trader6127
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@astrologychick, switch to log scale and you'll see why it "looks" vertical.
astrologychick
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@agency, Sorry, I don't understand this. And I am asking from a fundamentals perspective. I want to know why this price action is happening like this when there are over 200,000 unconfirmed Transactions on the chain. Etherium is all clogged up too, and the price is reflecting this by going down...
Trader6127
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@astrologychick, fundamental don't matter... they never did. Altcoins are suffering in their charts vs. BTC. THis is why Ethereum is going down. Longer term, the entire sector is very bullish still.