Brief Rally in Bitcoin Faces Resistance

24 thg 10, 2022

Bitcoin has gained strength off the unexpected rally in stocks, testing 19.5K. As predicted many times here, Bitcoin met swift resistance at this level, and could not continue the rally to 20K. We are seeing a nice pull back here, and are likely to return to 19.0K, with 18.6K a likely lower bound, and 17.6K a floor price for now. If we are somehow able to make an attempt at 20K, this level will surely provide resistance.