BTC hasn't been able to break through resistance at 12k after 3 solid attempts. Movements are a bit chaotic, but attempting to visualize the different support and resistance levels I came up with a vague support line. If its right BTC may touch around 11,060-ish again before moving towards 12k again. Lets see what happens.
Comment:
BTC took a quick dip down and touched the yellow support line I created, though it did not continue upwards as I had anticipated. BTC is moving sideways but continues to respect the support line we've drawn as reference. Some time tomorrow afternoon I think we'll see one of two scenarios. BTC will breakout to the upside of the blue triangle around 11,750. If it breaks through immediately we may see it push up towards 12100 and eventually find support around 11,750. If BTC doesn't break through 11,700 on the way up, it may move sideways for a few candles and possibly drop down. If this happens we might be moving donwards towards 10,500. This is a longer term evaluation. it may take about a week to complete either of these scenarios.
