Just a very quick update really. We’ve had a very nice bounce from the area I marked as support earlier. This is the black trendline on the 2 month log chart above, which corresponds to the bottom of the first channel I drew back in February. That bounce has taken us above that channel and back into the March channel, which I’ve coloured in a sky blue.
I’m getting increasingly convinced that this crash marked a ‘very large’ correction rather than ‘the top’. I’ll be watching very closely to see if we are going to stay in this blue channel. Or break out above it again? Nothing would surprise me in bitcoins.
Did you sell expecting price to return to single digits ? Starting to wonder if you should buy back in? 😉
$500 and beyond !!!
But what do I know? I’m just a guy on the internet.