Bitcoin Resistance
Updated
Scaling into some Bitcoin shorts here.
Very heavy moving average resistance, 0.618 level, losing momentum at key range level, exhaustion. If Bitcoin breaks above 8k convincingly I will look to reassess my plan, but so far, so weak.
Expecting a break down from the rising wedge, then a visit to mid 6k region eventually.
From there, if everything looks good, I'll be looking for some long term longs to ride to 10k.
Very heavy moving average resistance, 0.618 level, losing momentum at key range level, exhaustion. If Bitcoin breaks above 8k convincingly I will look to reassess my plan, but so far, so weak.
Expecting a break down from the rising wedge, then a visit to mid 6k region eventually.
From there, if everything looks good, I'll be looking for some long term longs to ride to 10k.
Note
That was a very quick trade gad daym
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