Bitcoin: Approaching Many Tiered Resistance

in #bitcoin • 7 years ago (edited)

Bitcoin faces many levels of resistance higher than the current price near $10,400.

There are at least three distinct resistance zones between $12,000 and $13,500. Plus, the 89 SMA is currently valued at $12,405.

While the current price action is bullish, strong headwinds exist as BTCUSD tries to break to all time highs.

daily resistance.PNG

DISCLAIMER

This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action.

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7 years ago in #bitcoin by
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     7 years ago 

    I suspect a break of 12,500 will spark a bull run. A couple days above 10k and we will see it happen

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     7 years ago 

    Yes, I'm watching the 89 SMA closely, which comes in just below $12,500. If we can break above it and stay above it, after some consolidation, we can make a run at the ATH. Exciting times.

    This story is an example of the frothiness and FOMO that will only increase as we move higher:
    https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16

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