Resistance continues to keep BTC below 6400.
We hit a high around 6300 before moving back to the current range
We should hit 6400 today and retest that price again. Whether we break through it or not is debatable.
What we do know is there are a number of levels of resistance the whole way up. We have to watch carefully as we pass through 6400. If the market rejects it and the price starts to drop - there may be a short situation. If you are a long term holder - there is no change in the overall outlook for BTC. Just an opportunity to try and collect some more in the short term.
First stop is 6400 - if we can't pass is - be prepared for another dip into the 5000's. If we do pass it - we will have passed the test on the way to 6800 and eventually 7200. Bitcoin grows stronger every year - there is no reason to think this year is the exception to that!
We hit a high around 6300 before moving back to the current range
We should hit 6400 today and retest that price again. Whether we break through it or not is debatable.
What we do know is there are a number of levels of resistance the whole way up. We have to watch carefully as we pass through 6400. If the market rejects it and the price starts to drop - there may be a short situation. If you are a long term holder - there is no change in the overall outlook for BTC. Just an opportunity to try and collect some more in the short term.
First stop is 6400 - if we can't pass is - be prepared for another dip into the 5000's. If we do pass it - we will have passed the test on the way to 6800 and eventually 7200. Bitcoin grows stronger every year - there is no reason to think this year is the exception to that!
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