BluePipSquad

Long Term View on BTCUSD

BITSTAMP:BTCUSD   Bitcoin
Analyzing BTC on a long term basis shows that price failed to keep the recent break above $10k. We can see that there is a tremendous amount of sellers at that level still. The key will be to see if we can get a strong push past once more as it remains a key resistance level. Alternatively, look for short opportunities if price fails to break and sellers take control driving price back down to the $5k level before testing $10k again. Long term I am bullish on BTC, but the volatility may still see it lose half its value once more before testing $19k levels once again.

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