Bitcoin failed 3000 CNY breakout.
Updated
Bitcoin failed 3000 CNY and previous uptrend breakout with a huge and fast 500 CNY retrace . It's forming now a rounding top around previous trend resistance indicating buyers are exhauted and traders are taking profit at this level.
Good shorting opportinity if it breaks down current channel. With first support area in the 2600-2500 CNY level.
Good shorting opportinity if it breaks down current channel. With first support area in the 2600-2500 CNY level.
Note
Rounding top didn't break downwards, so bearish signal was canceled. Instead Bitcoin held very well previous 500 CNY insta-retrace, and now looking very strong breakout the 3,000 CNY level again.Previous daily and weekly analysis remain intact and keeps following the mirror pattern.
Note
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