Breakout Imminent

Crypto Compass 43

The essence of fighting is the art of moving at the right time.

— Bruce Lee

• The State of the System suggests that we’re in the neutral zone - or no man’s land - as the price remains in the same range: $28.8k - $29.4k. It’s make-it-or-break-it time, the market tested the extremes of the broader range, but there was (is) a lack of interest to break the $28.6k - $30k channel.

• The risk of a pronounced drop is high, but a break below $28.5k seems unlikely. We await the next catalyst to trigger the next move. $32k and a full-blown alt season are around the corner.