Are the lines moving averages, reminds me of options traders marking off the waves of volatility in relation to daily price movements.
Would it not be nice to see something like from where we were to 6k ....then go to 7k...meander a month or two ..then 8k...just kinda plug along 1k every 2 or 3 months
would be the first time BTC would show the 'illusion' of normalcy IMHO....(ah. if wishes were fishes..we'd all be wet!)
BTC as norm
The funny thing is if price goes 6500 flat from here to till year end, people might think this pretty poor but the guys in the back rooms would be very happy at such stability and underlying businesses would surely benefit from price stability.
Just a small slow appreciation could be the best case for all parties. I dont really believe in such ideals, but boring can be very good really; if everyone were bored for the next year we'd all miss the silent positive to that. People look at prices too much and focus on the near term as well when overall BTC at any current level is still well beyond what I perceived start of 2017.
If we are taking value exchanging without pause in a global market already swamped with varying factors then the price being fairly steady is a big plus. I imagine we breakout and resume the rollercoaster tbh, speculators would be sad if we didnt.
Current price action since about mid August has been buoyant looking back, vs 8 day average only brief dips below have occurred and mostly we have been floating on top with a current rise above 6500. I'd say we maintained a good level of gloom in reaction while doing very little, I guess thats bullish.
I want to say the target price should be upside of 7316 because BTC does that, it goes places but if we keep the current sensible stage ongoing then 50 day moving average is a fair place for it to find resistance and it did that just a few days ago so thats the more bearish scenario to peak and fall back, resume gloom though as said its not really done anything for a while.
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