Blockchain and CryptoCurrency HOT SPOT!

[Trendliner]

DOWNSIDE TARGET 5,000 +/- 500 REMAINS AS KEY TECHNICAL TARGET

While Bitcoin's low at 7036 held a key retracement level, the momentum pattern since that low in early February suggests that it will not hold. Thus I expect the down trend that began in December will go to the range of 4500 to 5500 before forming a base from which a test of the highs at 18,723 can be tested.

Will those highs be bettered OR has BITCOIN done its thing on a permanent basis is the question. Perhaps others can answer that one but at this time the technical are insufficient to do so.

My gut tells me it's the latter and that what we saw in December was when the suckers came in to get slaughtered. But I've learned not to trust my gut. I'll go with the technicals.

Trendliner