This won’t be as long of a post as I usually do since all I’ve basically been watching is Bitcoin. What I’ve been seeing lately is continuing resistance and large drop potential for a couple reasons. First, the headlines are constantly showing some new analyst saying higher and higher ridiculous targets for Bitcoin (at least ridiculous to me).
Some have been less ridiculous, but all have the same common denominator in that the “next bull run is just around the corner”. Well, when I hear that, I look at the chart and ask, “if it’s just around the corner, why isn’t it starting yet?” I am ever the Bitcoin permabear so this line of thinking should not be a surprise. Anyway, key levels which may determine short-term and medium-term direction are both very very close, hence the name of this post.
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