Bitcoin Is Currently Running Into Resistance
Updated
Bitcoin has hit a resistance cluster that was formed back in Jan 2018 at $12800, Lets see if it can hold and retest what is now previous support at $8800.
If we break higher above $12800 the next resistance is the 61.8 fib at $13600.
If we break higher above $12800 the next resistance is the 61.8 fib at $13600.
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The price of continued into the extreme upper area of the identified "resistance cluster" hitting a high of $13900 before reverting, this is exactly why we always allow for a slight overshoot to occur and never the exact target to be hit.Since topping out at $13900 we have since fallen to $10500 at time of writing putting us 60% of the way towards my support target at $8800.
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