Bitcoin Market: Wait for it.

Hi traders, I haven't added to my position yet.

Here's why.

• The price is squeezing tight against resistance but we haven't seen an increase in volume typical of a break out pattern yet, beside the RSI is oversold which could indicate more consolidation before we make a serious move up;

• On the bull side though, we've technically gone above the 38.2% resistance and testing its strength as support which tells me that the market could be just about to make a move but as I said, I am being patient and cautious;

• Altcoins are slowly bleeding out, look for charts that have bottomed against Bitcoin (like Zcash), those could make a good buy.

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Cheers.