Hi guys,
As we all know, nothing can go up forever. Bitcoin is currently in a rising wedge channel which is going to hit heavy resistance around $12200(AUD). It is my understanding that bitcoin will bounce off this resistance and consolidate at a slightly lower price (~$11700, AUD). After this consolidation I believe that as long as we stay over the trend line which can be drawn from the 7800 (AUD) level then bitcoins future prospects are very bullish.
This may be a good time to take some profits before buying into the small dip if you hold bitcoin.
At this point in time, I can not find any negative news. However, keep in mind that news does impact the market sentiment.
As always, remember - bulls make money, bears make money, but HOGS GET SLAUGHTERED!! Don't be a hog guys!!
Donations always welcome
Ethereum address (any ERC20 token): 0x15dFDafD261A263162178C994D7F78355B59dCca
