2 Comments
Jun 13Liked by Mosaic Asset Company

Great post! Do you think Bitcoin will breakout soon? That 70k ish area seems tough

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I think if Bitcoin is going to breakout, it has to be soon.

The bullish case for the setup is the smaller pullbacks in price off the $72k level. Tested that level four times since March. On the most recent two tests in May and June, smaller pullbacks show the supply/demand balance shifting in favor of the bulls.

But if Bitcoin can't hold support around $66k, then I think that invalidates the more immediate bullish case and the basing action has further to run.

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