Bitcoin having trouble breaking out...

in bitcoin •  2 years ago 

We were almost there...

A break above about $31.5k would likely see bitcoin accelerate to the upside.

Possibly starting the move to the $40k area.

However, that $31.5k resistance has been tough to crack.

Here's the latest attempt:

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(Source: https://cointelegraph.com/news/btc-price-dips-below-30-k-bitcoin-daily-candle-turns-sour)

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So many small traders have lost faith in Bitcoin... Because all the big players buy Bitcoin off the normal exchange markets, those trades don't affect the value.