I want to point out an EXTREMELY spicy bit of info about today's Bitcoin price action.
We are currently sitting ABOVE the macro resistance level that originated in the April ATH (reference yellow line). If Bitcoin holds this level or higher at the weekly close.. its game on!
Of course it has plenty of room to swing down for a correction, and support levels are marked accordingly. On-chain looks equally spicy, with Bitcoin supplies on exchange continuing to drop at an increasing pace, posting a 21 degree downtrend on the chart, thats a lot of outflows.
We are currently sitting ABOVE the macro resistance level that originated in the April ATH (reference yellow line). If Bitcoin holds this level or higher at the weekly close.. its game on!
Of course it has plenty of room to swing down for a correction, and support levels are marked accordingly. On-chain looks equally spicy, with Bitcoin supplies on exchange continuing to drop at an increasing pace, posting a 21 degree downtrend on the chart, thats a lot of outflows.