The bears are out and yesterday they went down all the way to $10092 on Bitstamp. The bears could not break 10k, YES!, but looks like they are trying again as I am writing. We are currently at $10220 after a run up to $10963.
The daytraders are having great fun with the bitcoin price. That is 9% up from the lows, it you can get your timing right.
So will $10k hold? This is the psychological support and $9372 the technical support. Yesterday we saw Haejin Lee and Tone Vays with bearish views on the Bitcoin price. Tone made a new update and I will include it below.
Here is the Technical Analysis from The Chart Guys with the details for the short-term Bitcoin price:
Here is the technical analysis from Tone Vays. After 10000 he sees no support until 7500! Ono!
Good news is that the Mempool is coming down as transactions are getting done faster and hopefully cheaper soon. Lightning Network is kicking in too!
See here: https://tradeblock.com/bitcoin
Please comment below with your thoughts on Bitcoin price?
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Colin Brazendale
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I am a successful bitcoin cloud miner and affiliate of Genesis Mining and USI Tech. I have been mining for the last 19 months. I highly recommend Genesis Mining and USI Tech to earn bitcoin and make money online. I believe it is more important to earn income than hold assets. That is why I recommend mining crypto and blogging on Steemit.