Resistance just below $200

Without further ado heres an updated chart which I’ve modified it a bit since the last time. I’ve removed the lines marking the original channel and added new cloned trend lines at the low point of silk road and the high point we are currently at.

So it looks we’ve finally encountered some resistance just short of $200 on a trendline which also coincides with a mini peak as the price fell at the end of June.

I’m thinking that the price might consolidate here for a bit, maybe in between those upper two trendlines, or it could even bust through that trendline too, shown in blue arrows. This is bitcoins! Or it correct down a little further as I’ve shown with other coloured arrows. Who knows? But I see no reason to doubt that trend is still active at this time.

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2 thoughts on “Resistance just below $200

  1. Once again, 200’s resistance has been easly perforated.
    In the same time see how litecoin collapses compared to BTC, even USD but less stronger.

    I’m getting excited as I was in april when BTC price tried to reach the sky.

    Ooooooooooohooooooooo 😉

    By the way let me introduce my Baby, born 15 days ago. Called Roman. Hope he will live in a better world with freedom, healthcare and food for everybody and no fiat currencies.

    1. Congratulations! Thats great news, being a parent is one of the best things in the world.

      It is exciting when price rises like this. Price really needs to consolidate a bit I think, but maybe silk road cleaned out a lot of weaker hands so this rally could commence..

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