Following my last post & keeping the short position (TP-7500) on, I am also looking forward to a breakout of Gann 2/1 resistance. Technically, 4H STOCHRSI is going up & entering overbought conditions. However, the MACD signal is getting positive. Overall, bearish pressure is high. Only a fresh meat can break the resistance significantly up to 8400 so that we aim at 9k and 10 region.
Note
Last short TP-7500 hit. BTC tested Gann 2/1 resistance & it holds to avoid any upward movement. BTC is not testing the Fib 23% level and Mar 19 bottom i.e. 7240. If BTC holds this, I trust it will be positive news for bulls. For the time being, it appears as bears are holding this tight & targeting 6k.
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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.