A few days ago, I posted this signalling that an imminent bull move was on its way. Now, it took a little longer than expected but nevertheless, worked out in the end. The defining $6800 level gave up and we are now over that key resistance price point. So, what can we expect to happen next from here?
Well, I'm thinking we could easily hit $8000 or near to it. From that point, I'd maybe take some profit off the table. As in the short-term at least, there is definitely an opportunity presented here. Now, looking a little further into the future (jeez, I feel like a goddamn weather reporter) and there are two clear points we need to surpass in order to negate the entire bear trend as a whole. The first being $8500 and then the final line in the sand of $10000. After that, strap yourselves in for an impending market surge like no other!
But as I said many times before in the past, we are still in a strong downturn as far as Bitcoin is concerned. And the further up price goes from here, the stronger the levels of resistance above will be to pass through. So my advice is stay vigilant and mark out the important levels according to your plan of action.
Of course, I'm just HODLing for now. Keeping whatever I have and sitting on it. And at the same time, trying to earn some more in the way of Steem and also investing in other cryptos too if given the chance. But BTC is king, for now. All price action of almost every other altcoin out there is dictated by the original digital asset. As long as this is the case, you will want to follow the price of BTC over and above anything else and use it as your key indicator in regards to your overall portfolio.
Best of luck, my Steemian friends! :)