With the closing of today's candle clearly, unambiguously and fairly solidly in the green, I'm going to tentatively call our current price consolidation range as between $950 to $1,150.
Accordingly, I am not going to get too excited if BTC price moves in either direction within what I consider our current consolidation range - until it might look like we could be breaking out of the range in one direction or another.
Furthermore, in spite of the ongoing Hardfork FUD and some other "bitcoin is dead" nonsense, at this time, I will continue to place the odds that a price breakout to the upside of the consolidation range seems to be a bit more likely than a price break out to the downside.
Surely some folks here may have contrary opinions, but not to be too flippant, this is an opinion, so I am not really very wedded to whether I am correct or not.
I am calling the situation in the way that I currently see it, based on a variety of recent price movements and long term fundamentals from my viewpoint.
agreed!
market should be relatively indifferent to the blocksize ongoing FUD.
For months (if not
years!) many have already sold out because of the block-size-debate-FUD
so... who STILL hasn't sold "because forking shit"??
Also market is driven by traders, traders that are unclear of the details... so they probably don't really care "who wins" and all scenarios seem to point to a bullish outcome, the worst case scenario appears to be "double your coins"!!
if anything they should be thinking about pricing in the fact that this debate APPEARS to be coming to a resolution soon, sure the debate is on FIRE, but thats only because "the end is near".
and which ever way it goes, once this stalemate is over, there are very big plans and MASSIVE improvments ready and waiting, "bitcoin is scaling up" the headlines will read, this is massively bullish.
price will go up untill futher notice!
i hope
.
