The pink trend line here represents the top of the downtrend that began back in July. While this is a nice sign of strength, I must interject some bearish insight by pointing out the volume upon breaking this trend line. It is not quite as strong as I was looking for but with that said, it is an uptick in volume.
One possibility is BTC could follow down that trend-line for a few days before testing the resistance block I put there in red. This box represents the resistance that is shown by the Ichimoku cloud. If you look back to the last green cloud you will notice that this is where I placed the resistance box.
Another possibility is BTC continues to pound that resistance box until it breaks through.
In one of my previous posts I pointed out the resistance here along with it potentially lasting til March.
One possibility is BTC could follow down that trend-line for a few days before testing the resistance block I put there in red. This box represents the resistance that is shown by the Ichimoku cloud. If you look back to the last green cloud you will notice that this is where I placed the resistance box.
Another possibility is BTC continues to pound that resistance box until it breaks through.
In one of my previous posts I pointed out the resistance here along with it potentially lasting til March.
