Bitcoin - too much resistance ahead!
Hello, my friends!
It's time to look at the Bitcoin price action using the classical TA tools. First of all let's notice that BTC is struggling to go lower because of huge support. If it's going to pump it should do it rapidly.
In the opposite case the huge resistance can easily reverse it to the downside. First resistance is located at the trendline. If it's able to break it through the next level is 0.61 Fibonacci and supply zone at $23800.
What about my trades? Now I am in long, but ready to immediately to close it if the pump is not going to happen. Let's see.
Best regards, Ivan
It's time to look at the Bitcoin price action using the classical TA tools. First of all let's notice that BTC is struggling to go lower because of huge support. If it's going to pump it should do it rapidly.
In the opposite case the huge resistance can easily reverse it to the downside. First resistance is located at the trendline. If it's able to break it through the next level is 0.61 Fibonacci and supply zone at $23800.
What about my trades? Now I am in long, but ready to immediately to close it if the pump is not going to happen. Let's see.
Best regards, Ivan
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