As we can see in the previous periods bitcoin couldn't break the resistance line (Middlebands). When it touched the middlebands it would go into a dip. This occured 3 times now. When it finally broke the resistance it came to a stop at the upperband. The chances are quite high when the a chart hits the upper band it would go down. We can assume that the middleband is the "Resistance" and if it bounces back up when it came down from the upper band right on the middle band, there is a high chance it would go back up straight for the upper band.
But if it does not bounce back off there is a great chance that it will go under the middleband straight to the lower band. We can see this in de MACD. It is at it's tipping point.
This is my second Technical Analysis. Comment, Feedback are appreciated! I'm still in the learning phase. What are your thoughts about BTC?
But if it does not bounce back off there is a great chance that it will go under the middleband straight to the lower band. We can see this in de MACD. It is at it's tipping point.
This is my second Technical Analysis. Comment, Feedback are appreciated! I'm still in the learning phase. What are your thoughts about BTC?