Bitcoin Price Rejection
I am not really good with write-ups, but here we can see Bitcoin rejecting the downward trendline that is meeting with the upward trendline forming a flag, as you can see at first test of the downward trendline, it bolted down and held the support at 45k, and made a drastic push to 46k, almost testing the downward trendline again, you can see wicks of exhaustion, ending the upward rally at 47,223, at this rate price won't be able retest the downward trendline. Price is currently at 46280, if we catch a bounce the next place to add a short is at 47022, our target will be at 40k where we wait to see price next move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.