Bitcoin faces short term Resistance

Bitcoin faces short term resistance at its previous high. See the chart below:

The move in Bitcoin has surprised all and rewarded long term trend followers. Now it is facing resistance at its previous peak. It might consolidate here a bit. See what happened the last time it faced resistance. It consolidated but then broke out and made a huge move. Will this time be similar? Only time will tell but probabilities are in favour of Bitcoin making a huge move after breaking out.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: