If anything, crypto markets are struggling for 2 months now to continue their uptrend. And the big problem is … Bitcoin’s massive wall of resistance around 10,000 USD.
Bitcoin has been struggling lately to find the energy that it requires to break through 10,000 USD. Let’s not forget that 10,000 USD is resistance now for some 9 months, and 3 attempts failed to break through this resistance level.
Remember, the more touches or failed attempts to break through resistance, the more bullish energy required to accomplish the real breakout.
What we believe over here at InvestingHaven is that a different setup is required for BTC to break through 10,000 USD which is what we now call its ‘massive wall of resistance’.
Which setup? A different one, a bullish reversal type of pattern.
Patience will be required in crypto markets, but also precision. Finding the right entry point which might still take another 6 to 8 weeks is what success is about in crypto investing in the summer of 2020.
Long term we remain ultra bullish, short to medium term so-so.
We did visualize this in our crypto investing research over the weekend, and our premium members received one of the longest weekend updates in a long time. It lays out a projection of how we believe BTC will overcome its massive wall of resistance at 10,000 USD, and how this will benefit the entire crypto market. This projection lives in our research area, which is a restricted area. After signing up here you can see our projection, and when we believe we can be buying BTC.