The price of bitcoin hasn't broken out yet, but it also hasn't fallen apart yet either.
After meeting stiff resistance around the $20k mark, the price has been consolidating for several days now, probably getting close to a week actually.
However, the fact that price hasn't really done much except hand around here probably means it is gather strength to push through that resistance line.
How many here remember playing Super Mario on Nintendo?
It's sort of like that:
(Source:
)https://twitter.com/LSDinmycoffee/status/1335208486788063233/photo/1
- LSDinmycoffee
The price gets rejected a few times but each time that resistance gets a little bit weaker.
Like Mario it builds up again and makes another run at that resistance.
Eventually the price hits one of those spring board things that shoots it through that resistance.
Then moon time begins, well sort of.
There is often a pullback after a major break of resistance that shows that former resistance acts as support.
Once that pullback happens, then it's moon time.
