I'm cautiously optimistic or even doubtful that the bitcoin price will break through my blue resistance line.
WHY?
1. It's failed 4 times before to break through the blue resistance line.
2. We are now in a 11 month downward sloping trend
3. Failed to maintain over 61.8% Fib line
4. Low recent volume relative to the rest of the year
Nothing here really says to me that a break out is imminent. I hope i'm wrong, I know there is a lot
of optimism and rumors of whales moving in, but I don't know how credible this is and at this
point it doesn't show on the regular market data. If it is true that they are buying OTC and it has
not effected the regular btc market, when and how will it later?
WHY?
1. It's failed 4 times before to break through the blue resistance line.
2. We are now in a 11 month downward sloping trend
3. Failed to maintain over 61.8% Fib line
4. Low recent volume relative to the rest of the year
Nothing here really says to me that a break out is imminent. I hope i'm wrong, I know there is a lot
of optimism and rumors of whales moving in, but I don't know how credible this is and at this
point it doesn't show on the regular market data. If it is true that they are buying OTC and it has
not effected the regular btc market, when and how will it later?