As the most prolific observers of #SocialMining on behalf of @Bitcoin , everyone is watching a familiar crossroads on $BTC the resistance zone that has characterised the structure of the last week. It is not simply a matter of whether price breaks higher and whether the sentiment among miners, analysts and traders is in line with that move, but rather it is a matter of how the sentiment is aligned to that move.
According to the technical patterns, the resistance in the daily close may act as a start to upward continuation where the last all-time high may be approached. But, when it does not secure the level over this, it could lead to a new downwards pressure and propel the $BTC again to the well-known support levels. In the market, players are hedging against both, taking a combination of chart consciousness and macro indicators.
These inflection points are interesting case studies in the context of the discussion of SocialMining: moments when coordination and patience and time determine the result more than individual measure. In either case, the progressive or stagnant movement of BTC, the very development is a conversation between the human feeling and the decentralized markets, an experiment of collective behavior in the digital realm.
