Given the larger picture of the market correction concerning Bitcoin and other Altcoins, experienced investors know that we are in a perfect purchasing position and have been for the last week. Good positions like these market-wide do not come around everyday.
We are back within the falling wedge formation! After a daily bearish move downwards, we have shot back up. Is this a reversal finally, back into a range of motion that would make me bullish, or is this another dead cat bounce?
The current price of Bitcoin is $6,532 on Coinbase. Today's high was $7097 with a low of $6483. Clearly the chartists were wrong with their target of $7500 as the bottom, as we saw the slight rebound after wicking down to the 200 Day SMA peter out.
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I put $200 in ADA last night, today it's up 120%. Have you ever heard of those kind of gains?!
Well it happen, 10k. Then, 19k. Almost 20k! This BTC run has been phenomenal, and continuously grown in a parabolic craziness surrounded by nothing but speculation and excitement.