It’s time for an update. Remember how I said that BTC broke through? Let’s take a look at what BTC did in the last twenty days.
Interesting it has been following the line I drew last time almost to a T.
1) Yes, BTC broke out to the upside. Note that the steeper line on the left acted as resistance. The line on the right acts as support. BTC is ready for a run, but selling pressure remains high.
2) If the selling pressure remains high, we will possibly revisit the juncture at $6800 in 1-2 weeks.
I came across a post that has a similar outlook on BTC:
1/ THE BITCOIN BEAR MARKET: A brief thread pic.twitter.com/1mOoYYIBHU
— The Crypto Fam (@TheCryptoFam) May 23, 2018