'Do Not Fear Ghosts of Fiat,' Says Bitcoin Policy Institute, as Bears Lurk at Resistance

💡 DMK Insight

Rallies stalling near resistance levels signal a potential consolidation phase ahead. The recent uptick in trading volume suggests that traders are actively positioning themselves, but the inability to break through resistance indicates caution. This could be a classic case of profit-taking as traders weigh the risks of entering at these levels. Halloween-themed comments on social media might be fun, but they can also distract from the underlying market dynamics. Watch for key resistance levels to hold; if they do, we might see a pullback or sideways movement. Conversely, a breakout could trigger a new wave of buying, especially if institutions start to show interest. Keep an eye on the daily charts for any signs of momentum shifts or reversal patterns, as these could provide actionable insights for your next trades.