Bitcoin Cuts Through Resistance Like Butter

I’ve been out of town since Thursday for a family event. Of course bitcoin takes off as I’m away from my computer, unable to trade. Murphys law…You can all thank me later. 

In my prior analysis., I’ve discussed a potential short squeeze numerous times. Admittedly, I did not expect price to break above $6,500 without hitting major resistance. In the past 5 days, we’ve seen a parabolic move to liquidate shorts that’s brought price as high as $7,900. Daily volume hit an all time high (on May 11th) of just above $28.8 billion. Today’s volume is just above $26.5 billion. Clearly

About the author: Workin 2005
Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

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