Bitcoin in congestion area on GoNoGo Charts
Updated
This is the daily GoNoGo Chart of Bitcoin. We can see that we are in an area of congestion that will need to be overcome. The 9230 level should act as resistance and the 8380 level should act as support. If price trades down to that level over the next few days then we would need to look to the GoNoGo Oscillator to see if support can be found at the zero line.
On an intraday basis it looks as though that support was found today. I will add that chart as an update in the comments section.
On an intraday basis it looks as though that support was found today. I will add that chart as an update in the comments section.
Note
Note
Above is the intraday chart 240 minutes. As we traded down to the support level, we saw a neutral amber bar and then a renewed "Go" on the GoNoGo Trend. This perhaps indicates that support was respected.
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