Update:
don't ever post BTC because I hardly look at it, in terms of analysis I have spotted 2 daily resistance levels that if we break will show amazing momentum leading into the next few weeks, hopefully signalling a reversal. firstly you can see we are very close to my first point of resistance and since dropping below it as support it has been suppressing price ever since.
so looking to see a test and hopefully a break of this level but we quickly have another line of resistance just above it so to break these levels will signal a Hughe move for bitcoin obviously we are talking daily timeframe so this could be several days time, I think we will see at least a test of the line by Monday and to be honest I don't want to see another test on support this level (my red line) has held up really well but we did see a break of it a few days ago so my worry is that if price comes back down it is going to do similar but this time probably hold the line as resistance. if that happens a short would be a good move and exiting your positions would also be a good move
time will tell hoping we see a nice push to the upside breaking and most importantly RETESTING these levels as support!
don't ever post BTC because I hardly look at it, in terms of analysis I have spotted 2 daily resistance levels that if we break will show amazing momentum leading into the next few weeks, hopefully signalling a reversal. firstly you can see we are very close to my first point of resistance and since dropping below it as support it has been suppressing price ever since.
so looking to see a test and hopefully a break of this level but we quickly have another line of resistance just above it so to break these levels will signal a Hughe move for bitcoin obviously we are talking daily timeframe so this could be several days time, I think we will see at least a test of the line by Monday and to be honest I don't want to see another test on support this level (my red line) has held up really well but we did see a break of it a few days ago so my worry is that if price comes back down it is going to do similar but this time probably hold the line as resistance. if that happens a short would be a good move and exiting your positions would also be a good move
time will tell hoping we see a nice push to the upside breaking and most importantly RETESTING these levels as support!
