Bitcoin Fighting the Good Fight at 30K

in LeoFinance11 months ago

Well, since bitcoin price got back to the top of the range it was basically stayed there for the most part.

The upside resistance, which is more so 31K continues to maintain, but price continues to dance right along it the past week.

It is always good to see a high and tight consolidation after a move up. Doesn't guarantee a breakout, but certainly doesn't hurt the odds!

High and Tight...

Looking at the daily chart above you can see the price action I spoke about earlier.

We received a nice move off of 25k topping out at 31.5k. This move is nothing to sneeze at, it's over a 20% move that happened over the course of a week, thus profit taking is not much of a surprise here.

However, we haven't seen a actual pullback yet. Ideally, there are buyers gearing back up to push us on through the other side.

Plenty of bullish things going on with bitcoin and the news that Blackrock and other ETF applications weren't "sufficient" didn't seem to knock bitcoin price down for any extended period.

Things look resilient at the moment, but we shall see what this weeks brings.

Posted Using LeoFinance Alpha


It looks like the run that occurred in 2020 is about to repeat itself. BCT could rock $60,000.

That's because the news was not actually a bad news just improper filings plus options that where expiring , market markers just doing their thing liquidating both long and short of traders with high leverage