This chart shows somewhat of a Throwback. Since BTC decline it has been making levels of support which you can see on the red trendline. this level of support has now become major resistance as you can see on the charts and this is what is currently preventing btc from going higher. what will happen will it move deeper into the triangle forming and break out, will btc roll over or will it break that resistance line? these are the 3 options for btc.
what do you all think will happen next?
what do you all think will happen next?
Note
as we said price cotinues to hit its head on resistance and rolled over to find support it will try to attack again. lets see what happens will it break through and secure that position over 40k
Trade closed: target reached
as you can see price is continuing to roll over and is now heading towards the major support level demonstrated in this update of the chart
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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.