Resistance Holds Strong, But We're Not Alone

FEB 18, 2022 • 14 Min Read

Jason Pagoulatos + 1 other

DISCLOSURE: MEMBERS OF OUR TEAM MAY HOLD TOKENS MENTIONED IN THIS REPORT, INCLUDING BTC, ETH, AVAX, SOL, LUNA, FTM, ONE, NEAR, ATOM. THESE STATEMENTS ARE INTENDED TO DISCLOSE ANY CONFLICT OF INTEREST AND SHOULD NOT BE MISCONSTRUED AS A RECOMMENDATION TO PURCHASE ANY TOKEN. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT MAKE DECISIONS BASED SOLELY ON IT. THIS IS NOT INVESTMENT ADVICE.

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Crypto Market Can’t Catch a Break

February has proved to be an extremely volatile month for Bitcoin and the wider range of crypto assets, with prices making large moves to both the upside and downside. The first two weeks of the month saw prices rally off of the January lows at $33K to about $45K. Although moves like this happen more frequently in crypto and crypto natives tend to get jaded by larger percentage moves, this was still a big move for any asset (BTC included), topping out at around 40% from the lows. In last week’s “Markets Insights”, we mentioned a few things that are prudent to revisit given what’s occurred since.

First, we stated, “bitcoin is heading into resistance on multiple timeframes…what we mean by this is BTC is moving into an area of daily, weekly and monthly resistance.” This is notable because when multiple timeframe levels

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Jason Pagoulatos + 1 other