Resistance Holds Strong, But We're Not Alone

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