cryptoGats

Bitcoin - Just can't close above resistance, what to make of it?

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Just as predicted there was a test and retest of support and resistance. I have oerfectly laid out where support is and where resistance is for days now. Bitcoin is lacking the serious volume needed to generate a move up. The battlefront still remains on the 12H between the 200MA and the 20MA. The bulls want BTC to make it past the trendline that is now resistance (I have noted that in the above chart) and the bears want to drive BTC below the 200MA which is a very dangerous thing to do. Why? well... if that happens it will be very hard for BTC to recover. Last time we lost the 200MA on the 12H it took one year to recover. So how would we know if the bulls have won and it is safe to put our money back in? BTC has got to make it over my faded red line of resistance which is around the 11K area. That will signal the first higher high in a long time, I just doubt that there are enough buyers to create a rally. The best thing to do is stay on the sidelines and wait for a break, our strategy will always be to preserve our capital and only jump in during low-risk situations, which NEOUSDT is in the middle of. Other major coins are not there yet. I will post in the next few hours the strategy on which coins to buy and which price point to jump into.
The trend: Ranging sideways and leaning towards going down.
Outlook: Unsafe for retail traders
Be safe and follow me to stay ahead of the curve.

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