BTCCNY: Things might get boring for a whileBitcoin appears to be stalling after an incredible surge when breaking out of a biweekly mode a couple weeks ago. It managed to test a strong resistance at 5047.50 and instantly fell back down, breaking a bar's low. Currently, price rebounded and is trading slightly above a key resistance level, so it'd be possible get a rally in this pair. For now, we might be looking at a triangle type pattern, where there are a variety of smaller trends that fail at extremes, and a rally or sharp drop occur, depending on where price is and other fundamental events in the big picture narrative.
The halving will come soon, this is a highly anticipated event, I'll pay close attention.
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Ivan Labrie
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