Bitcoin (XBT) Short-Term 1H Timeframe Update

May 29, 2020

Here we have the same chart I shared yesterday on the 4H timeframe, but here we are looking at 1H, to have a closer look as to what is going on.

The rising wedge drawn yesterday is now broken.

Prices started to retrace quickly as soon as we hit our "strong resistance" on the way up (in light blue).

The "strong resistance" can be challenged again, but remember that Bitcoin needs to conquer this level if it is to continue higher.

The tendency is now lower... Bitcoin is likely to continue to drop.

Previous articles, feel free to show your support:

Bitcoin (XBTUSD) Short-Term + Altcoins Update

Bitcoin Peaks (What's The Similarity Here?)

Namaste.