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RE: EOS Technical Analysis: UNABLE TO BREAK RESISTANCE...YET by workin2005

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· @workin2005 ·
Could be...
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@bitbrain ·
It will be one of those two my friend, it will be.
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@workin2005 · (edited)
LOL....I agree it'll be going up or down, the question is, where will it be in 2 weeks. Regarding Bitcoin, there's a ton of resistance all the way up to $11,800. Looking down, there's a lot of support between $7,000 and $6,000. If we get a decision on ETF's that could drive a major bull run or a possible collapse depending on the ruling. Regardless of how much we don't like the SEC's influence, there's no doubt it's there. 
What'll be interesting is how retail reacts to the SEC pushing the decision off until next year...which I'm thinking is a very likely scenario. I'm already seeing articles saying the decision will be delayed...which means that may be baked into the price already and not have much influence. That said...if a surprise decision is made, we could see a bull or bear run to new highs or new lows. Oh, to be a fly on the wall inside the SEC....
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@bitbrain ·
I honestly think ETF interest is waning (as  it rightly should). The longer it takes, the more the effect will diminish.

I wouldn't worry too much about resistance above the current BTC price. If BTC starts to run properly it will melt through that that a mosquito in front of a blowtorch. Half the sell orders will also probably disappear.
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