BitcoinUpdated BTC - Pulling back for a test
The current price action is closing below support levels and has selling pressure pushing it down.
Indicators are oversold, I would expect a retest of support at 10300 (yellow)
Smaller timeframes are not as overbought but the smaller timeframes are low on volume. If the volume does not show up at 10,500, the chances of a 10,300 retest are even more likely.
Indicators are oversold, I would expect a retest of support at 10300 (yellow)
Smaller timeframes are not as overbought but the smaller timeframes are low on volume. If the volume does not show up at 10,500, the chances of a 10,300 retest are even more likely.
Note
BTC did not pull back and retest at 10,300 support. When Square announced their 50m purchase of Bitcoin, the price quickly broke above the resistance line.
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