We have now been in this channel for over 6 days. It is a 2% range and things are very contained.
We have not seen BTC this contained and tight in a long time.
Volume continues to drop off, and when the break occurs we will see a volume spike associated with it.
Whenever this weekly chart clearly breaks with follow through, this $6,000 level will either be a brick wall of support or resistance depending on the direction.
This will be the most important level for BTC for the next couple years due to the length of time we have been within it, and the amount of times it has been hit.
There have been some alt coins with volatility but for those waiting on the major names, patience continues to be key.
I cannot imagine how low exchange fees are for these companies compared to what they were 6-12 months ago, due to a lack of trading in this environment.
We have not seen BTC this contained and tight in a long time.
Volume continues to drop off, and when the break occurs we will see a volume spike associated with it.
Whenever this weekly chart clearly breaks with follow through, this $6,000 level will either be a brick wall of support or resistance depending on the direction.
This will be the most important level for BTC for the next couple years due to the length of time we have been within it, and the amount of times it has been hit.
There have been some alt coins with volatility but for those waiting on the major names, patience continues to be key.
I cannot imagine how low exchange fees are for these companies compared to what they were 6-12 months ago, due to a lack of trading in this environment.
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