Bitcoin Breaking Key Resistance as New High of 16k Was Set
Price continues to soar despite an upcoming event risk, aka CME futures, in a few days . Nevertheless, price has managed to push above the key resistance line as seen in the chart. In addition to this, I think Bitcoin is in a bullish ascending scallop structure in which we could price continue to accelerate to the next key resistance. Also, I don't think we're anywhere near a crash yet, this is evident by the volume in BTC/USD, where we see volume is still picking up exponentially. When Bitcoin experienced its first real crash and bear market from 2012- 2013, the crash occurred after a record breaking volume spike. Thus, I until we see another volume spike, Bitcoin will not crash until then. Anyways guys, video analysis coming soon, for now view our technical chart.
I also highly recommend reading this article on how bitcoin could and will crash below:
https://steemit.com/crypto/@honeybee/let-s-get-real-bitcoin
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