Looking at this chart of bitcoin, Bitcoin needs to pass the 3020 level in order to convince me there is another leg upwards coming. If that does happen, we could see another spectacular run up. The 2460 is an important level. If broken, it could lead to its level of 1940 low that is recently made. This is a very important level and if its broken, Id say bitcoins bull market is over or at least for the time being. It could turn out to be a bear market inside its larger bull market. Bitcoin is a bit unpredictable as there is little history to judge from for forward guidance. The reason why I only mention bitcoin in this post is because bitcoin will drag everything up if it breaks out of 3020 and it will drag everything down if it breaks the 1940 level. I would believe a lot of people currently in bitcoin are not what I would call smart money or strong hands. These people are weak holders and will sell if they see the price crashing. As of now, its tough to predict but watching those levels give you a bit more control and knowledge on when you perhaps buy some more and know when to hold on. If it breaks 3020, hold for the gap up and start selling a bit after a nice move. The 1940 level if hit, and holds will be a good time to load up which a easy stop loss to reduce risk if support is broken.
