As you can see BTC got rejected from the downtrend line for the 4th time, Fibonacci levels from the all-time high managed to hold as a support couple of times, let's hope BTC does not go under 9k, if it does we are in free fall long term and we will skip 8k zone like it doesn't even exist. Don't get me wrong there are some weaker support levels from 11k to 8k, but you gotta understand we are still in a bubble phase and this dance from 6k until now is just manipulation and denial phase. People quickly change their mindset, only 1000$ price fluctuation is enough for FOMO and bears are all of a sudden become bulls and vice versa. When we understand that this is still bubble phase and there is no running from a bubble, we can set our trades accordingly.
I don't see us breaking this resistance line, and let's just hope we do not go for a longer bear ride under 6k which could take us to despair period time of year or more.
For those less informed, resistance lines are not fixed price lines, nor Fibonacci lines, those are zones and price in those zones can fluctuate by a couple of hundreds of dollars especially in highly volatile market like crypto is.
I don't see us breaking this resistance line, and let's just hope we do not go for a longer bear ride under 6k which could take us to despair period time of year or more.
For those less informed, resistance lines are not fixed price lines, nor Fibonacci lines, those are zones and price in those zones can fluctuate by a couple of hundreds of dollars especially in highly volatile market like crypto is.
