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Bitcoin: Don’t Rule Out Another Rally While Above $23,130
Bitcoin is consolidating today after testing the $25,200 resistance level on Tuesday. But despite some calls for a top, BTC is holding up relatively well. In fact, it’s still above Tuesday’s low, and the monthly open at $23,130. That $23,130 monthly open is the level to watch for Bitcoin as it will serve as a “hinge” for bullish or bearish movement. As long as Bitcoin is above that level on the higher time frames, shorts are unfavorable, and we could get a move back to $26,000 or higher. Alternatively, a sustained break below $23,130 on the higher time frames would tilt the chart more bearish toward lower ... (full story)
