Can the previous resistance become the new support?
Resistance has clearly been broken. After the weekly rally a pullback is normal, so the real question is whether this resistance can become support and if we can accumulate enough power to continue reaching towards the new all time highs. In my opinion, yes - people that got burned in the previous rally towards 42k and entered too late will have their chance at breaking it again and people that cashed out and re-entered after the pullback will do the same while the rest who held will keep on holding. Everyone; let's continue towards the 100k!
Note
I guess the answer is yes!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.