Recent price action is showing some signs of recovery. May be settling into bottom at the 56000 to 57000 level, but I want to see how today and the weekly tomorrow ends up before making decisions on whether to buy in small amounts on Monday. If we lose this level, then 51000 to 52000 should offer a reprieve
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For simple math and hopium, it's worth looking at where price currently is relative to the past. We're actually still above the fair market value line, but not by much, making this a nice area to settle in to. If we dropped below, and was more consistent with the prior cycle, valuation would be around 51400 before picking up steam. The simple fact is that we over shot to the upside early and have been reverting to the mean for the past 3+ months.
You can find this chart, and others at https://www.lookintobitcoin.com/charts/bitcoin-cycle-master/
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come on 50k
For simple math and hopium, it's worth looking at where price currently is relative to the past. We're actually still above the fair market value line, but not by much, making this a nice area to settle in to. If we dropped below, and was more consistent with the prior cycle, valuation would be around 51400 before picking up steam. The simple fact is that we over shot to the upside early and have been reverting to the mean for the past 3+ months.
You can find this chart, and others at https://www.lookintobitcoin.com/charts/bitcoin-cycle-master/
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Price pushed up a notch and yesterday's daily close ended up on a positive note. Buyers vs Sellers still looking ok for today thus far. Aggressive level ups being met by slow deflating of the balloon.
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