The Fight Against The Resistance

The last several weeks have rarely provided any respite; glimmers of hope are often short-lived while daily rebounds are quickly overpowered by sellers looking for a less-worse exit price. One of many questions that investors have been asking is when we may see some kind of bottom or reversal begin to form. Our previous notes have discussed a handful of useful technical tools to help visualize current trends, which we find helpful to track how market conditions continue to unfold.

Bitcoin Continues Exploration of Range Lows

In “Sour Sentiment & Sideways Markets”, we observed that BTC traded within a range for the entirety of 2021, oscillating between ~$32K and $62K. Deviations, or failed breakouts and breakdowns, are highlighted in their respective red and green boxed areas. For those who read the aforementioned note, you