While it is easy to operate with a deterministic mindset on exactly what will happen, we should always keep an open mind and assess that various options. We look at the two main trains of thought with Bitcoin and identify how each one may affect the rest of the market cycle. If the price of Bitcoin is unable to immediately get above the bull market support band (within the next month or so), then it may turn into a resistance level that could become hard to break. If this happens, the evidence for a longer consolidation phase before our next leg only increases. TA Video by Benjamin Cowen.
