natewelt
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November 07, 2015, 04:41:09 PM

Can someone just tell me where will we possible head? Up or down? Based on analysies and some speculations  Wink

The support is holding us above levels last seen in Dec 2014. We've never been so high before in the entire year of 2015 and we have tested the support and are now slowly making higher highs.

The downward movement a couple of days ago was due to climbing too high too fast and people were panicking because everyone kept saying we will reach the moon, but we didn't so people got scared and sold the shit out of it, but we are now gradually moving higher and coming out of this correction.

Although you can argue that we are currently correcting a huge downward trend on a yearly scale, I really doubt this is the case because there have been just too many positive news coming out regarding Bitcoin. (gemini, nyse, constant news about the rally, the halving etc.)

I personally see no way to go but up and the guys who keep telling you we're through and it's the end are most likely desperate and trying to lower the price so they can get in early because they missed out or even lost a lot in the panic.

If you happen to have a decent amount of coins I wouldn't recommend selling them right now. As for opening a long position, still not sure in the short term.


+1

Great post