The price of Bitcoin has been steadily rising along the 6-hour moving average line. It’s currently pausing at the $67,000 mark, which seems to be the strongest support level.
Resistance lines play a significant role in acting as strong barriers, but if they fail to do so properly, there’s a good chance they might be breached.
During uncertain times, it’s often wise to mitigate risks, so selling off about half and then reassessing might be a prudent strategy.
Whether the resistance line will be breached or hold steady could be determined today or tomorrow. Significant movements are needed to see the outcomes, so it’s crucial to observe which direction the market takes.
Personally, if the resistance is breached within two days, I anticipate an upward trend; otherwise, I expect a significant downturn.
Currently, sentiment among people is leaning 65:35 towards an upward movement.
There seems to be a majority of individuals expecting modest gains rather than a significant surge.
While extreme optimism or pessimism often leads to contrary outcomes, minor fluctuations like these tend to be more accurate predictors.
It seems worthwhile to monitor the situation for at least a day or two.
In any case, I’m inclined to sell off about half and observe how things unfold.