“Teal line from the break of March highs has acted as resistance in the middle of April. RSI recently (in the end of April) successfully broke through the line and had a nice run to the upside. Now, in the middle of May it is coming back to test the same line, will it act as a support or will it fall right through it?”
“My suspicion is that all the daily issuance is being snatched up by retail Bitcoin users, so I’d expect that if my hypothesis is true, barring any future big blocker political footballs, we’d see a fairly steady progression in the price, as the market realizes that Bitcoin isn’t actually in a bubble.”