Bitcoin Hit Resistance at Recent Swing High
Since issuing a buy signal the other day, Bitcoin quickly jumped $40/coin. There it met resistance at $780, which was predictable given that the recent swing high was stopped there. $780 was discussed in our last update as a likely place of profit-taking. This has come to pass. The question is: What is next?” In my opinion, while of course there will be lots of profit-taking and turbulence along the way, there is little (long-term) resistance before ~$860. There, price will hit the top of the square and could (perhaps) make a swing high there. If price breaks above the top of the square,....
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