As I said in my video (see below), if we can close this weekly candle above the very strong resistance area we are currently trying to break through, it will very likely kick off the next bull run, as it will also coincide with the monthly closing above the 10 simple and the monthly RSI closing above the key resistance line that has marked bear vs. bull cycles since Bitcoin's genesis.
That said, I realized that I failed to cover the bearish angle in my video.
If this weekly candle fails to close above the blue shaded resistance area, while I don't think it will be a death knell, necessarily, I do think we would likely go back to retest the 8500 area next week and maybe consolidate between 8500 and 9k for a while.
That said, I realized that I failed to cover the bearish angle in my video.
If this weekly candle fails to close above the blue shaded resistance area, while I don't think it will be a death knell, necessarily, I do think we would likely go back to retest the 8500 area next week and maybe consolidate between 8500 and 9k for a while.
