A few days ago I posted about how bitcoin looked like it wanted to break out.
In that post I discussed the two potential breakouts. One of which was just getting out of the tight consolidation it had been in for two week. That range was the high 27s to the low 29s.
Well, we got that first breakout with bitcoin now above 30K and eyes are on the next longer term resistance, which tops out near 32k.
Bitcoin Bringing Some Excitement
Looking at the chart above you can see to the left all the price action around the 32k level back in May and June of 2022. After crashing through 30K, price came up and tested that level several times before having its next big sell off.
That price level was war and to think it won't come into play again is a bit silly. We shall see what happens.