- BTC hasn’t moved much inspite of being on the breakout point.
- BCH, EOS broke out on the short term chart.
Bitcoin, the largest cryptocurrency by market capitalisation, which usually shows the way to all the other major cryptos, has not yet moved much after nearing the breakout point on the charts, inspite some other cryptos such as BCH and EOS have given small breakouts.
BTC/USD is up one cent of a percent on day at $6,340 almost at the same price where it was on Saturtday, when this author reported about a breakout point (read earlier article here), perhaps the fact that low volume and low volatility of the weekend hampering the move of the elephant.
For the King to move and for the bulls to rejoice, BTC needs to cross past the resistances on the short term as well as long term charts – $6,345 and $6,800 respectively.
BTC/USD daily chart: breaking out?