The long target of $1300 has been achieved. As with any market, things can continue to remain overbought for a long time. I am leaning towards a pause here and retracement back to previous ATH around 1160. That would setup a larger fib support level in the $1000 area should the ATH bounce fail and breakdown. I will not draw that until we have more of a pull back here.
If bitcoin truly takes on it's role as digital Gold (and you may argue we are already there with it surpassing gold price), then it's use as a flight to safety is going to be amplified many times going forward. More on this later.
If bitcoin truly takes on it's role as digital Gold (and you may argue we are already there with it surpassing gold price), then it's use as a flight to safety is going to be amplified many times going forward. More on this later.
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