🔥 Bitcoin Closing In On ATH Resistance: Consolidation Expected
Bitcoin as been on a massive bullish run since the start of October. With BTC closing in fast on the ATH, there's a decent chance that we're going to see some form of consolidation in the near future.
The mean area of resistance is the area between the second highest peak and the all time high value. This area will pose strong resistance, most likely from bulls taking some partial profits.
Most likely scenario would be for BTC to consolidate around this area for a couple of days. This would allow the alts to do some catching up. Most bullish scenario would be a massive bullish candle right through the all time high, potentially hitting 70k. Most bearish case would be a strong sell-off towards the September top, around 52.5k
Let's hope for some crazy price action in the coming weeks.
Happy trading!
The mean area of resistance is the area between the second highest peak and the all time high value. This area will pose strong resistance, most likely from bulls taking some partial profits.
Most likely scenario would be for BTC to consolidate around this area for a couple of days. This would allow the alts to do some catching up. Most bullish scenario would be a massive bullish candle right through the all time high, potentially hitting 70k. Most bearish case would be a strong sell-off towards the September top, around 52.5k
Let's hope for some crazy price action in the coming weeks.
Happy trading!
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