quantguy

Brief Rally in Bitcoin Faces Resistance

Short
BITSTAMP:BTCUSD   Bitcoin
Bitcoin has gained strength off the unexpected rally in stocks, testing $19.5K. As predicted many times here, Bitcoin met swift resistance at this level, and could not continue the rally to $20K. We are seeing a nice pull back here, and are likely to return to $19.0K, with $18.6K a likely lower bound, and $17.6K a floor price for now. If we are somehow able to make an attempt at $20K, this level will surely provide resistance.

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