Bitcoin - Reading Between the Lines
My first published TA.
I don't believe BTC has the necessary strength to push past the major resistance - yet.
I think that most traders are still in too much fear of another anti-climactic drop and will be securing profits again as we nudge toward major resistance. This also appears evident when comparing to the 2015 fractal.
How low will we go if the sell-off occurs? I'm not sure, but I'm not yet convinced we will see another panic low because in this low volume market the moves are usually smaller than we initially anticipate. I think we've got a way to go before we see high volatility in either direction.
- Jack
I don't believe BTC has the necessary strength to push past the major resistance - yet.
I think that most traders are still in too much fear of another anti-climactic drop and will be securing profits again as we nudge toward major resistance. This also appears evident when comparing to the 2015 fractal.
How low will we go if the sell-off occurs? I'm not sure, but I'm not yet convinced we will see another panic low because in this low volume market the moves are usually smaller than we initially anticipate. I think we've got a way to go before we see high volatility in either direction.
- Jack
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