There is a nearly 10 year trendline for BTC that will be tested this year - in the $75,000-$100,000 range, depending on WHEN we get there. As you can see, this trendline was support for BTC all the way until 2018, then it was flipped to resistance in 2019. We are now nearing this trendline once again to retest. This is a major technical development because like I said, its 10 years in the making and will basically dictate the rate of growth BTC has going forward.
Will we flip it back, or will this be the local top for this cycle? Has BTC market cap grown to such a size that it can no longer sustain the same slope of growth?
What do you guys think?
Will we flip it back, or will this be the local top for this cycle? Has BTC market cap grown to such a size that it can no longer sustain the same slope of growth?
What do you guys think?