Bitcoin

Bitcoin Hit Resistance Post-Breakout

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After breaking up and out of the downtrend channel, Bitcoin has hit horizontal resistance near 31K which stems from the price peak in mid-April. Price has been capped by resistance for 6 days, failure to move above resistance soon will likely lead to a reversal.

Lower indicators are reading bullish after the channel breakout which is worth keeping an eye on. View on price for now is neutral; a move above resistance will flip me bullish, a dip back below $30k will tip me bearish.

Penafian

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