Bitcoin in a Short Term Equilibrium Pattern-waiting for a break
After a recent big move up, it looks like we may continue in an equilibrium pattern for the short term.
Waiting for a break of the equilibrium pattern to determine direction. We will want to see volume come in to confirm the break of this pattern.
With all of the positive news including Grayscale's recent purchase of $300 Million, I expect we will continue to hear institutions and other companies increasing their asset exposure to bitcoin.
Paypal's news about being able to Buy/Sell/Hold several cryptocurrencies (including Bitcoin, Ethereum, Litecoin and BCash) will continue this trend that brings Bitcoin exposure to the masses.
As for resistances, we will need to break 12,250 and the next major resistance before All Time Highs is $13,868.
Waiting for a break of the equilibrium pattern to determine direction. We will want to see volume come in to confirm the break of this pattern.
With all of the positive news including Grayscale's recent purchase of $300 Million, I expect we will continue to hear institutions and other companies increasing their asset exposure to bitcoin.
Paypal's news about being able to Buy/Sell/Hold several cryptocurrencies (including Bitcoin, Ethereum, Litecoin and BCash) will continue this trend that brings Bitcoin exposure to the masses.
As for resistances, we will need to break 12,250 and the next major resistance before All Time Highs is $13,868.
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