This test is important. We either hold here and try to bounce or we go down to around the 28K level.
If we see 28K could the bull run continue? I think it could.
Do you think bull run is over? Would love to hear your comments!
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So the move to high 20's was much faster than I could ever have imagined.
We did not quite hit 28K but 29K and saw some serious institutional demand kick in. Highest volume ever traded in one day in Bitcoin. Serious change of hands.
Recovery was looking like t could happen but we have exactly touched my 42.4K resistance/old support line and rejected straight off it.
That is a dead cat bounce. This could mean some bloody months or years for crypto unless we can keep consolidating as an accumulation range and have another stab at 42K and reclaim that support.