Back on track

Have just updated my 1 month chart so might as well share it in a new post. It seems that buyers are coming back in. We’re still in the channel that I’m getting very used to drawing in by now. The weakness that I feared in my last post didn’t amount to anything, in fact by the look of it we have recovered back into the top half of the channel.

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I think the next test will be around the $30 mark or about $31.5 where the all time high is. Would expect might see some resistance there. The upwards pressure in price does seem phenomenal at times though. If we get past that perhaps new all time highs are not that far away and then the skies the limit.

 

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One thought on “Back on track

  1. You know, it has occurred to me that market manipulation could be done in this tiny market, and it wouldn’t be much of a shock to see it happen. For example, if I had BTC 40,600 to sell, I could dump them right now and drop the price to my outstanding bid of 24.80. And it probably wouldn’t require that many to start a stampede. That is, you wouldn’t need to sell the whole “market depth” to get the price down to that level.

    This is just a thought experiment, since my little stash isn’t enough to have any effect. But you wouldn’t need that much investment to be the JPM of BTC.

    Currently still trying to decide whether I want to get back in at the higher price, or simply wait with about 50-50 BTC / cash in the account.

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