BTC failed at Resistance
Rejected. We got rejected, guys. Bitcoin couldn’t break through the 79–82k resistance area, with the SMA200 sitting around 82k and strong horizontal resistance around 79–80k. We’re currently trading below 77k.
Now we need to watch closely. We could find support around 75k, but summer is approaching and seasonally, that’s usually not the best time for BTC. There’s a real possibility we revisit the 60s again.
My main area to watch is 60–62k. If we manage to stay above that zone, the bottom structure still looks valid. Of course, there’s always a chance we go lower. I even heard someone on a podcast last night talking about 38k. Personally, I don’t expect us to go that low.
What do you guys think?