BTC is honouring the trendline and I am watching this setup for future price movement.
BTC is reacting to rot in the global markets stocks, oil and other assets.
If people are loosing money, it is less likely they will invest anywhere at all. They will rather have cash with them to offset any future problems.
Volume is not that great, new money needs to come in for BTC to move higher.
You just can't predict everything, but at least we can anticipate some direction, BTC is not yet decoupled with traditional assets and we should expect some consolidation or drop in line with the global markets.
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Played well till now. BTC will run into resistance now.