Bitcoin Consolidation Continues

Bitcoin Consolidation Continues

Bitcoin has been held back by the same arc of resistance now for the past 4 days. Readers of my last column will recall that 2 days ago I posted a chart which demonstrated that the 2 arc of the 5th pair was resisting. Though I have hypothesized that an eventual close above the arc is likely in the cards, that arc has not been defeated by the bulls yet. Here is a close-up of this 8-hour chart, so you can more easily see how the 2nd arc has been the key resistance for 4 days now: So, will we see higher highs in the days to come? I continue to believe so, but we still don’t have a buy signal....


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