Just a quick update on COINBASE:BTCUSD , on the . As I discussed in todays COINBASE:ETHUSD update, BTC has not closed above $9340 in 9 months. The upcoming monthly close (2 days & 17 hours from the time of writing this update) will tell us a lot about where the corn wants to go.
Previous failed attempts at closing above $9340 have resulted in drops to the $6300 and even $3700 region. The last time we did close a month above $9340, we saw the corn fly as high as the $13,000s.
Essentially, whether we close above or below $9340 is a big deciding factor for the coming months. Be sure you watch it closely.
Good luck traders.