@franzdgreat, needs to close at least 1 candle above the line for decisive breakout.
itooam
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@franzdgreat, now that btc is seemingly believed to no longer be in a bubble (?), I now feel that technical analysis can show more merit since the market will be less impacted by fake / negative news. I.e., at the peak of the bubble (circa 20k), investors were trying to figure out when to exit their long positions because everyone was fearful that it was in bubble territory etc... Though I now feel the news will have less impact, this cannot be fully ruled out... and so I would much rather wait until the price breaks above the current $9800 resistance (as per the top purple line on my graph) as to whether to become bullish once again.
franzdgreat
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@itooam, i think BTC is going sideways for months after the bounce
itooam
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@franzdgreat, you may be right, there is a common pattern this time of year if you look back the last 4-5 years.
itooam
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...at least it ultimately it tends to be bullish ;)