[BTCUSD] Surpasses Major Resistance!

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Welcome to this updated analysis on BTCUSD Let’s get right to it!

Looking at the daily BTC chart, we can see that BTC has quietly broken above a few important resistance levels. First off, price broke above the falling black trendline , which has acted as rock solid resistance since May 5th, 2018. So, that alone is a major change, where powerful resistance has been surpassed. Unfortunately, it was done on light volume . We need to see some more of these resistance levels fall if the price is going to rally up toward the levels. 
So, there is clearly a bit of indecision here, as traders watch the market creep above important resistance levels. 

Major resistance has been surpassed, but additional resistance remains overhead. A failure to surpass that remaining overhead resistance would greatly increase the likelihood that BTC will continue to chop sideways for quite some time. 

This information is to be used for educational purposes only

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