Just a quick update after the nice move from Bitcoin yesterday, price action accelerated quickly after the previous resistance levels fell.
I would expect some correction after that nice little run, blue lines indicate the possible shorter term trading range we could expect in the market. It will be interesting to see how many bears are left and where they will start offloading some of their BTC.
Hedgefunds and Crypto celebs have been calling it a good time to buy for a while now, the charts are also in agreement, as well as the fundamentals.
Resistance for the short term is between $7400 and $7800 and I will look to those levels to signal the next leg up. On the support side we could see prices dip as low as $7050, should the bears decide to join the party at these prices.
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