Bitcoin: BTC All Set To Take Off (November 2019)
- 5 years ago
Bitcoin: BTC All Set To Take Off (November 2019)
Bitcoin is struggling to break past the $7,246 resistance which was a strong support before the price declined below it. Even though BTC/USD has now entered the red zone on our chart, we still believe that it is ready to take off and rally much higher. When the price declined into the red zone, it should have crashed hard if it meant to, but the fact that it hasn’t tell us that a move to the upside might be in the offing. The near-term outlook of the EUR/USD forex pair increases the probability of such a move.
Bitcoin is struggling to break past the $7,246 resistance which was a strong support before the price declined below it. Even though BTC/USD has now entered the red zone on our chart, we still believe that it is ready to take off and rally much higher. When the price declined into the red zone, it should have crashed hard if it meant to, but the fact that it hasn’t tell us that a move to the upside might be in the offing. The near-term outlook of the EUR/USD forex pair increases the probability of such a move.