I've been following a trend line that goes all the way back to 2013 and has proven, time and again, to be a place of major resistance and support.
Before going into our parabolic uptrend in 2017 it rejected price five times, each time sending it down 30 to 40%, but once it was broken there was a huge surge. Most recently it supported price for a month before the bear trap and big "China" surge back up to to 10.5k in October, and when we broke back through it in November price dropped precipitously.
I would expect BTC to find strong resistance and a harsh rejection at this line once again, probably somewhere around 9.8K.
Before going into our parabolic uptrend in 2017 it rejected price five times, each time sending it down 30 to 40%, but once it was broken there was a huge surge. Most recently it supported price for a month before the bear trap and big "China" surge back up to to 10.5k in October, and when we broke back through it in November price dropped precipitously.
I would expect BTC to find strong resistance and a harsh rejection at this line once again, probably somewhere around 9.8K.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.