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Bitcoin: The Grind Continues

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@scaredycatguide
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The price of bitcoin is bouncing along 19-20k the past week. It isn't a story we haven't seen before in the last few months. In fact, it has been three months since we first hit this level and the current range began.

People are definitely getting impatient wanting some kind of action, whether it be up or down. This current consolidation is either the sellers gearing up for another push lower or the level that there are just too many buyers for things to drop.

Volume has been light though, so that doesn't really scream buyers here. Maybe right now it is just lack of sellers.

Poke Poke, Do Something..

Looking at the chart we basically have a rounded top that has happened over teh last 3 months. Again, doesn't get me excited for the upside at all.

I personally think it is all a coin flip at the moment. However, if I was forced to lean one way or the other, it would have to be for lower prices incoming given the outside influences of stocks and economy.

20K being the ultimate bottom of this bear market would be epic. It just may be too soon for that.

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