Bullrun confirmation the following is needed
1.) sideways consolidation (yes)
2.) completion of pullback (yes)
3.) downwards correction to @6400 range (Yes) (@6464.67)
4.) low volume to equate PULLBACK (Yes)
For breakout
1.) ascending triangle completion (no)
2.) large volume (no)
3.) large media announcement (no)
Possible downturn setting stoploss @6500...
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is presently well above the 60 level.
Major Support Level – $6,320
Major Resistance Level – $6,500
Trendline has been followed to the T. I have found constant income of volume that I believe is pushing price. If we break resistance trendline then breakout to bullmarket is possible. Right or wrong this is not finiacial advice.
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Don't believe there to be enough volume in the market at this current moment to force bullrun. Downtrend was broken with sidestep to show true resistance @5800 - @6400. This is snapback to continue downtrend. will look to buy-in below @4900 - @5300 resistance. Unless 1M in volume enters market to force bullrun. NOT Financial advice.
lower HIGHs sell when 13wk...
