JayJuanGee
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How much alt coin diversification is needed? 0%?


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March 28, 2017, 04:33:17 AM

With the closing of today's candle clearly, unambiguously and fairly solidly in the green, I'm going to tentatively call our current price consolidation range as between $950 to $1,150.

Accordingly, I am not going to get too excited if BTC price moves in either direction within what I consider our current consolidation range - until it might look like we could be breaking out of the range in one direction or another.

Furthermore, in spite of the ongoing Hardfork FUD and some other "bitcoin is dead" nonsense, at this time, I will continue to place the odds that a price breakout to the upside of the consolidation range seems to be a bit more likely than a price break out to the downside.

Surely some folks here may have contrary opinions, but not to be too flippant, this is an opinion, so I am not really very wedded to whether I am correct or not.

 I am calling the situation in the way that I currently see it, based on a variety of recent price movements and long term fundamentals from my viewpoint.