🔥 This Resistance Is Keeping Bitcoin From Breaking Out
Ever since BTC has hit ~$23,000, we've been mainly trading sideways. However, we keep on making new highs, which is quite bullish in my eyes.
Sadly, the new highs are quickly being sold off once they hit the purple resistance. This resistance is the number 1 thing which is keeping BTC from its next leg up.
After yesterday's massive move we can see that BTC has, yet again, bounced off said resistance. A correction was warranted after a move like that. Still, I'm expecting the price to retest the top resistance rather sooner than later.
Ideally, we'd get a strong break out combined with a retest of the resistance as support.
If we go below $22,700 in the coming days I'd be worried.
Sadly, the new highs are quickly being sold off once they hit the purple resistance. This resistance is the number 1 thing which is keeping BTC from its next leg up.
After yesterday's massive move we can see that BTC has, yet again, bounced off said resistance. A correction was warranted after a move like that. Still, I'm expecting the price to retest the top resistance rather sooner than later.
Ideally, we'd get a strong break out combined with a retest of the resistance as support.
If we go below $22,700 in the coming days I'd be worried.
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