just as expected, #BTC moved to fill the gap area but the upward move was a bit sharp so shorting BTC or other coins can be a bit risky now. if fact as long as the Blue trendline isn't broken, the upward move can continue.
As mentioned earlier the gap area is now a resistance zone. Also there's a supply zone just above the gap area and is overlapping with the Gap. Thus, BTC is facing a heavy resistance at the moment. Some volume divergence can be seen but there's no price divergence yet.
We'll have to continue observing the chart to see if BTC faces a strong rejection or not.
As mentioned earlier the gap area is now a resistance zone. Also there's a supply zone just above the gap area and is overlapping with the Gap. Thus, BTC is facing a heavy resistance at the moment. Some volume divergence can be seen but there's no price divergence yet.
We'll have to continue observing the chart to see if BTC faces a strong rejection or not.
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.
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.