BTC has managed to drop to the 6000 level, and through it. Will it stop here? Its hard to say.

by Dave

I’m guessing there’s a fair amount of support 5500-6000.  Candle code shows that today’s long black has a 62% chance of being a reversal.  Volume was very heavy, a decent-sized lower shadow showed some dip-buying.

Forecaster doesn’t gamble on reversals though, its still deeply in downtrend-land.

I’m not sure 6000 will hold.  We might have one more leg down.  Next support level is down at 5000.  You could put a buy order slightly above 5000 and you might get lucky.  Bitcoin tends to like its round numbers.  That’s because we humans like them.

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Bitcoin cash surged to almost $2000, but has since pulled back.

From what I see, people are essentially wagering on the future popularity of each software release.  They are called “coins” but the coins are really just side effects spun off by a big bag of code.  Coins are essentially a share of the future operations of the software package. Or something like that.


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