It might be time to SHORT BTC!
I have recently published an idea showing the big resistance and support lines which guide bitcoin since the enormous bull rage in 2017. Now, I go a little more specific in the probable next moves regarding those same lines.
There's an interesting trend noticed whenever bitcoin hits the major red resistance lines. As previously seen in 2019, bitcoin makes significant moves when it touches the red lines, either up or down. Considering this, we are now hitting once again the red resistance line, so bitcoin might be going down a bit any time soon following something close to the orange line and then entering a correction, with another blue line. Volume rates are low, which also indicates a bearish scenario.
However, if bitcoin doesn't follow this pattern, we are one step closer to the bullish break out.
What do you think? Time for short? Chose your destiny.
There's an interesting trend noticed whenever bitcoin hits the major red resistance lines. As previously seen in 2019, bitcoin makes significant moves when it touches the red lines, either up or down. Considering this, we are now hitting once again the red resistance line, so bitcoin might be going down a bit any time soon following something close to the orange line and then entering a correction, with another blue line. Volume rates are low, which also indicates a bearish scenario.
However, if bitcoin doesn't follow this pattern, we are one step closer to the bullish break out.
What do you think? Time for short? Chose your destiny.
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