BITCOIN: 39K The real resistance?
BTCUSDT is below 40K again, but while many think that 40K is the toughtest resistance so far, I'm starting to think the low 39K's are the real resistance.
The last weekly candle that closed above 40K was in MAY THE 3RD.
Not only that but volume is actually lower than the last time we closed the weekly so close to 40K.
The hull suite trend indicator (the big green and red wave) shows we are still on a downtrend on the weekly.
Based on this, if volume does not start to pick up and we get some momentum, price will probably bounce down from 39K again.
ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS VITAL TO TRADING
The last weekly candle that closed above 40K was in MAY THE 3RD.
Not only that but volume is actually lower than the last time we closed the weekly so close to 40K.
The hull suite trend indicator (the big green and red wave) shows we are still on a downtrend on the weekly.
Based on this, if volume does not start to pick up and we get some momentum, price will probably bounce down from 39K again.
ALWAYS PRACTICE RISK MANAGEMENT, RISK MANAGEMENT IS VITAL TO TRADING
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