We are topping on the weekly rsi as well as the bull trend we've had for the last year+ we could potentially hold this weekly above 1875 on Stamp and continue on to 2200 but it seems more likely that we'd get a significant multi 100$ retrace here.
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JamesBrown
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IMO, the two most likely scenarios from here are what you suggest (I think the most likely) or to go insanely parabolic (to something crazy like $5,000.00).
Tanner
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@JamesBrown, Anything is possible but that seems unlikely, here are my targets
targets for bull scenario are 2200 then a dip to 2k and on to 3k
targets for bear scenario are 1500 then a bounce to low 1600s then continued dumping to 1200.
JamesBrown
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@Tanner, you might be right. I'm just thinking if that strong price channel resistance doesn't hold up, and with all the recent craziness in the crypto-market, we might just finish off this "is it or isn't it a bubble" market with the "macroscopic blow off top", if you will.