Right on que, Bitcoin catching a bid!
As was mentioned as a possibility in my post yesterday, bitcoin is finally seeing some bullish momentum.
That post can be seen here by the way:
https://steemit.com/bitcoin/@jrcornel/bitcoin-appears-to-be-flagging
Bitcoin finally broke out of its bull flag to the upside, breaking the high of the flag pole in the process.
(Source: https://www.coinbase.com/price/bitcoin)
What does that mean?
Usually when bull flags break to the upside, they often rally to a point that is roughly the length of the flag pole.
In this instance that length would be about $250-$300.
Which means, a breakout from $3,700 would take prices up to the $3,900-$4,000 area.
That might not sound like much considering how high we were a year ago...
However, $4k would mark about a 30% gain from the lows around $3,100.
Hope you bought the dip!
Unfortunately for most of us steem is not really participating in this rally.
In fact it has slid a spot on CoinMarketCap from 47th down to 48th during this BTC rally.
Most other altcoins are seeing major bullish price action currently though.
EOS is one of the biggest gainers, with a 23% gain thus far.
Stay informed my friends.
