I made this post about a week back, signalling a good buying opportunity for BTC. Which, of course, indirectly correlated to most other pairs in the crypto market. Well, if you check out that article, I highlighted $6000 as being a likely bottom. A few hours ago, price could no longer fend off the impending upward pressure and away we went! Bitcoin is well over $7000, dragging all other altcoins with it. And of particular note is Steem sitting at a respectable $1.58 at the time of writing this. So this begs the question, where to now?
I'm even more of the mindset that the foundation is now set. Support is rock solid at $6000, but it is by no means "moon time" yet. We still have a little headwind to deal with, but everything being played out in calmly measured stages, is not only healthy from a charting perspective, but also prevents the emotional roller coaster of emotions that come with volatile parabolic moves. No, this is looking far more "natural" in terms of price movement, which is a truly great thing to witness.
Now, back to the original question. This is where "I" see things going from here on in. We are entering a trading range of between approximately $9000 and the support line of $6000. As long as that key support level holds, the upper price range will slowly diminish into a narrower and narrower band, until all longer time frames eventually turn bullish leading to that widely anticipated bull run we are all so patiently waiting for.
So, to reiterate, I expect BTC's price to trade within these price points I've specified until the actual bull run hits. And, believe me, it "will" be a bull run of epic proportions when it does. I'm purposely not going to get into the charting patterns I've identified but instead, am only post key price levels that I see as warranting significance. This bear market has been on an "egg-timer" for quite some time now and the sands are fast running out. Want to pick up some cheap crypto before it's too late? Now is the best and "only" time to do so...
Best of luck and Steem on, my brothers! :)
