Looks like the price is being rejected at the descending resistance. This happened before and led to a move downwards followed by a sideways break of the resistance. This could see us move to the top of the channel. Failure here would see us retest 6000 and ultimately lower if a bounce does not happen.
Note: This scenario depends on price closing below the downward resistance. I have already cashed out my trading position today.
Note: This scenario depends on price closing below the downward resistance. I have already cashed out my trading position today.
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BREAKOUT
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... or fake breakout?
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BTC is stuck in a rising wedge and facing a lot of resistance. I'd say wait before buying :)
if it breaksout well okay, if it falls then look for a bounce on the pitchfork lines
if it breaksout well okay, if it falls then look for a bounce on the pitchfork lines
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more indications that this is fake breakout
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We're testing that heavy resistance zone again. It's possible we will break out. I'v been expecting it at some point, but I don't think this means the correction if over.