$BTC analysis.

There is resistance at the high of the last cycle between 69 and 70k. There’s also a ton of supply around the 72k mark. Volume and demand exploded last time Bitcoin made a lower low. This has resulted in a massive reversal and bullish trend. Will this resistance or supply be enough to outweigh the booming amounts of demand? Time will tell but I do not think so. In my opinion, the local bottom is in and we will see sideways trading and a new ATH in the coming weeks.

Please comment your thoughts on the price of bitcoin and also take part in our poll regarding when we will see a new ATH for bitcoin.

This post is an opinion only and may not be used as financial advice.

#Write2Earn