BTC resistance - will history rhyme, repeat or ridicule?
History doesn't repeat itself, but it rhymes.
My personal opinion is that we see a sell off in stocks in mid-September as market starts to price in tapering activity agreed in 21-22 September FOMC meeting.
This will impact the crypto market also, which will have about a 50% sell-off over a 4 week period.
Then, everyone will rush back into crypto end-October as some bad covid news comes in (given it'll be flu season).
Therefore, I am positioning my portfolio defensively, until BTC makes a clean, higher volume break above said resistance.
Good luck out there and remember, changing your mind can be a sign of intelligence.
Regards, Goku.
My personal opinion is that we see a sell off in stocks in mid-September as market starts to price in tapering activity agreed in 21-22 September FOMC meeting.
This will impact the crypto market also, which will have about a 50% sell-off over a 4 week period.
Then, everyone will rush back into crypto end-October as some bad covid news comes in (given it'll be flu season).
Therefore, I am positioning my portfolio defensively, until BTC makes a clean, higher volume break above said resistance.
Good luck out there and remember, changing your mind can be a sign of intelligence.
Regards, Goku.
Finance_Goku