What i see is that BITFINEX:BTCUSD is approaching a restistance cluster. If we don't get more bullish volume in the market it could be rejected another time. Volume does not seem to hold steady - looks a bit shaky. What do you think?
BTC did cut trough the cluster like nothing. Bears seem exhausted. Volume is not very high, still possible to get rejected soon and fall down to 6.800 again.
HoodSquirrrel
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Classic hook and go. It's testing what was once support as a resistance line before heading back down. This is a very common thing to happen after that massive breakdown from the triangle we had last month.
Jeff_Cryptopop
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It's sort of like Groundhog Day. Will it be Spring or six more weeks of Winter?
Klataro
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@Jeff_Cryptopop, i don't believe in spring yet - very skeptical. The Blackrock news caused a bullish spike but they just said that they're interested in cryptos, thats not yet invested. Cryptocommunity is begging for bullish news like this. Its the usual behavior: spikes to the upside cause people to be bullish about BTC, days laters sell offs cause fear and despair. But we had this several times over the past few months. Overall BTC still in a downtrend.