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