Price action for the last 12 years on the logarithmic scale reveals a resistance trend-line that has been containing bitcoin's cycle gains from a % perspective. Similar to when we have "M"s forming against a frequently tested level of support before we see sell-offs, the opposite is true as we continue to test the upper range of this resistance trend line. A break of the trendline would also support that bitcoin is following the technology adoption s-curve. Degrading trust in traditional world economic systems only acts as a potential catalyst for massive fiat money devaluation and the transfer of the world economic order to a new technology stack.
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Disclaimer
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.