Bitcoin displays initial signs of rejection from key resistance
Bitcoin trades lower at $63,282 (-0.44%), displaying signs of initial rejection from the $64,000/$65,000 resistance area, which includes the 200-day moving average and the late August $65,103 high. We recently squared up our bullish BTC tactical bias initiated on the 9th of September in recognition of this resistance zone.
We will consider moving back to a bullish bias on a dip back towards support at $52,000/$50,000, pending signs of basing. Conversely, if Bitcoin were to break above trend channel resistance at $68,600, coming from the March $73,794 high, we would also consider moving back to a bullish bias.
We will consider moving back to a bullish bias on a dip back towards support at $52,000/$50,000, pending signs of basing. Conversely, if Bitcoin were to break above trend channel resistance at $68,600, coming from the March $73,794 high, we would also consider moving back to a bullish bias.
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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.