BTC Double Top
I previously posted about BTC and a hypothetical double top formation. Now it seems that I might have been correct I was just incorrect on the timing and the scale of the formation.
MACD RSI are both looking up, we will go back up and test the resistance. However I still predict that we will not make it over this barrier as it is quiet large! Just take a look at some of the order books on exchanges, major resistance still around the 9k mark.
The trend line I drew previously for the MACD seems to be holding. I think it will continue to bounce around on it's way up and the inevitably down. Target still the 5-6k mark. I'm just waiting.
As I stated before, I would rather miss out on some profits"" by waiting and buy a floor or a break out than somewhere in between.
I am not a financial advisor and this is not financial advice.
Thanks for your attention and best of luck,
X
MACD RSI are both looking up, we will go back up and test the resistance. However I still predict that we will not make it over this barrier as it is quiet large! Just take a look at some of the order books on exchanges, major resistance still around the 9k mark.
The trend line I drew previously for the MACD seems to be holding. I think it will continue to bounce around on it's way up and the inevitably down. Target still the 5-6k mark. I'm just waiting.
As I stated before, I would rather miss out on some profits"" by waiting and buy a floor or a break out than somewhere in between.
I am not a financial advisor and this is not financial advice.
Thanks for your attention and best of luck,
X
Note
Running into major resistance, not sure we'll make it through. Just have to wait and see! Who thinks we'll make it?
Note
Looks as if MACD is starting to roll over, and the RSI is pointing way down!I don't know why but indicators don't update upon clicking the play button on the chart. I'll have to post a new chart later if we start to see greater movement.
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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.