About a week ago I posted about Bitcoin seeking support and how the 27K level could come into play.
The hope was 27K would confirm as support after being the bottom end of that tight range bitcoin was in last month.
We indeed saw that level come into play as bitcoin held and then rallied back up to 29K. That is positive price action.
Bitcoin Price Staying in the High Range....
So, where do we go from here? Well, the good news is we are sitting in this upper range and near the highs for the year.
32K is a level I have been eyeing on the upside. Price failed to breach it on the last push higher. That is the level I believe bitcoin needs to establish above before we can get excited of seeing bitcoin make a bigger move.
Above 32K there is definitely a nice bit of real estate on the upside before any major resistance comes in.
Either way, it is nice to see positive price action on a whole of late.
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27k support, huh? Do I ask my magic 8-ball or is this financial advice? 😉 Keep it up!
Hahah, it's simple price action sir. ;-)
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😁
I was expecting it to go lower and I was hoping for a bigger drop to be able to buy at lower levels.
But I guess the volatility will continue going forward and we will see some sharp price actions in both directions.
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Good support level, now we should get above 30k and beyond. 😄
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One can hope.
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IMO $27k is pretty bullish as I've been expecting $25k for weeks now.
Wen summer bull run?
Oh yeah... summer.
But I want it now.
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Yeah, didn't think we'd hold 27K either. Glad it showed as support. A summer bull run would be nice.
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Up only ;)
I'm not convinced that 27k is a support line.
I'm thinking we could drift down some more but there could be news coming that disrupts all logical thoughts. !LOLZ
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