Why I'm Taking Profits Amid Bitcoin Price Resistence
The bitcoin price has more than doubled since I first published the report "How to Position for the Rally in Bitcoin" little over a year ago. It's been a great run, and I think there is a lot of potential left on the upside, but nothing goes up in a straight line and we are faced with a potential price resistance zone at $700-800. Here's how I see it: in the chart above, the straight line is simply the $700– ¥4,000 price resistance (a potential price target for traders), and the slanted line is the resistance above a cup-and-handle continuation pattern that's been forming for the....
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