The price of Bitcoin has shot up immensely from $2300 and reached a peak at around $2900 just a couple of days ago.
There's been great news of BIP 91 being activated and also news about South Korea legalizing bitcoin remittances, which is great in regards to bitcoins long-term value, but there seems to be a healthy amount of sellers in the market still.
If you look at the yellow horizontal line I've drawn on the chart below, you'll see that the buyers and sellers are fighting at that level ($2770)....if the price falls past that level we may see a huge sell off back to the $2600 area.
I'm crossing my fingers that the price cracks that $2770 level :)
Stay tuned!
