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RE: Bitcoin rejected at major resistance hurdle, but is the party over already?

in #bitcoin7 years ago

I was surprised lo see this leg up overnight as moves going into the weekend are mostly trying to bring down the market given the thinly traded volume at those times. However, for the last 2-3 weeks we have seen the market in general hold on to gains during weekends. I think this shows that volumes of selling pressure have weakened. If you add the recent increases in volumes during the weekdays, we may be able to breakthrough some resistance as shorts could get a surprise squeeze. Thanks for your analysis.