The current resistance that we have with Bitcoin at about exactly $4200 is due to an age old Resistance/Support line which began all the way back in 2013.
Like can be seen in the chart, the candlesticks from 2013 and 2015 have stopped exactly at this line and as we draw it even further we get our $4200 so this line is clearly the cause for this resistance.
I don't believe this is any restriction for further growth but considering how ancient it is it certainly can stagnate the growth for a day or two.
Like can be seen in the chart, the candlesticks from 2013 and 2015 have stopped exactly at this line and as we draw it even further we get our $4200 so this line is clearly the cause for this resistance.
I don't believe this is any restriction for further growth but considering how ancient it is it certainly can stagnate the growth for a day or two.