BTC Breakout
On every exchange aside from bitfinex, btc has moved above the resistance trend line. I have set this chart to log scale and drawn a trend line from the 20k mark touching 17k and sits right around 11.6 ($100 above the current 1h candle stick). Price has been slowly creeping towards this line but does not have the momentum needed to break through. At this point, price has been moving very slow with little momentum or real direction, anything can happen from this point forward, just keep in mind the bullish reverse head and shoulders pattern I drew in a previous post has nearly reached the neckline, we are above 200 day sma and currently sitting on strong support levels. With that being said, we are talking about btc which has proven in the past can be quite hard to predict and volatile. I have noticed over and over again, bitcoin always seems to over shoot, impress, and exceed expectations in many ways and I would not be surprised if we break this down trend soon.
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