Now here is the thing

As noted here earlier this morning, Bitcoin got to within a whisker of setting a new all time record high when it lifted to 64,475. Granted it was still some 400 pips shy of the existing record, but in Bitcoin pricing terms that is really nothing, as it represents a price swing of around 0.6%. Whilst there is still clear potential for the lead coin to set fresh records today there is also the potential for it to set in place a huge double top in the longer term. There is one interesting observation to note right now too. Should BTC set a fresh record today above 64,888, then it could arguably flip the whole drop from the previous 64,888 high, to the summer low, at 28,824. That was a drop of $36,064. So, if you add that number to the previous high, it comes out at 100,952. Now that would be a nice round number in terms of a target. That is not to endorse such a move, merely to point out the maths of it. From any perspective here; the whole thing looks to be in the balance. BTC is currently trading at 63,750