UnknownUnicorn897809

Bitcoin - 6k, support or resistance?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Everytime btc rallies and makes new highs, it news a bit of time to cool off before moving up again. When it does move up, we usually see the prior resistance turn into support. In this instance, 6k is a nice round psychological number, and we now need to see whether the market determines that as support or resistance. Should we have resistance here, a retrace to 5k is likely imo .

Again, I am neutral here, and just observing from the sidelines. Portfolio is weighed at about 85% BTC and 15% alts right now. If BTC rallies, I'll be looking to pick up some cheap alts. If BTC has resistance, then it should be good for the alts anyways.

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