When a strong overhead resistance level is scaled, it is usually followed by a retest of the breakout level. Bitcoin has completed a similar retest of the $8,250 line. This level had been previously acting as a strong resistance, and will now act as a strong support.
Similarly, Alexis Ohanian, a co-founder of the social media platform Reddit and a VC firm Initialized Capital had recently reiterated his year-end target of $20,000 on Bitcoin and $1,500 on Ethereum.
While we are also bullish, we are much more conservative in our approach. We like to take it one step at a time so as to not get carried away. The aim is to maximize profits for the readers, taking the least possible amount of risk.
