At least in the short-term, the price of Bitcoin was rejected from the peak logarithmic regression band. The band now ranges from approximately $58k - $86k, but this will increase as the logarithmic regression fit is of course a monotonically increasing function. The question now is whether or now the price of Bitcoin can recover and decisively move further into the band or if we are set to cool off for a while before making another run at the regression band. Do you think the price of Bitcoin will try to decisively enter the band for more than a few hours in the coming weeks? Or is it time for the price of Bitcoin to cool off, and make another run at it later on in the market cycle? TA Video by Benjamin Cowen.
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