BTC - Fighting Resistance
Bitcoin is fighting our upper white resistance level. If price is able to break above then this trendline should get flipped into new support and our next leg to the upside should begin.
Normally, we could see a rejection here bring price all the way back down to our green box but this time could be a little different. Even if we do get a pullback from this level I would not expect it to be deep.
The main flush was the liquidity grab below 90k and the strength we have seen from that point should give us the confidence that this uptrend should continue. Combine that with the inauguration coming up and all the potential bullish outliers I wouldn't be surprised to see price push through this level soon.
Normally, we could see a rejection here bring price all the way back down to our green box but this time could be a little different. Even if we do get a pullback from this level I would not expect it to be deep.
The main flush was the liquidity grab below 90k and the strength we have seen from that point should give us the confidence that this uptrend should continue. Combine that with the inauguration coming up and all the potential bullish outliers I wouldn't be surprised to see price push through this level soon.
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