Hi all,
A few days ago, BTC had a breakout of the trendline.
It tested the resistance at 41K, but failed to break it.
Currently, we are on the support level (blue line) of 37500 usdt.
As you can see, BTC is testing the big trendline.
Will it break down the trendline again? or will bounce back and continue in the uptrend movement (the dashed green lines).
If we bounce back, then we have a few resistance to break.
1) 39600 usdt
2) 41200 usdt
3) 42300 usdt
It will be very hard to break resistance 1 and 2, it already failed to do so.
We are also moving into the weekend, which will results in low volume.
Normally, the friday and saturday are really bad days for BTC.
I am not really positive that we break these resistance, I think we fall back to 34-35k.
NFA, have a nice weekend!
A few days ago, BTC had a breakout of the trendline.
It tested the resistance at 41K, but failed to break it.
Currently, we are on the support level (blue line) of 37500 usdt.
As you can see, BTC is testing the big trendline.
Will it break down the trendline again? or will bounce back and continue in the uptrend movement (the dashed green lines).
If we bounce back, then we have a few resistance to break.
1) 39600 usdt
2) 41200 usdt
3) 42300 usdt
It will be very hard to break resistance 1 and 2, it already failed to do so.
We are also moving into the weekend, which will results in low volume.
Normally, the friday and saturday are really bad days for BTC.
I am not really positive that we break these resistance, I think we fall back to 34-35k.
NFA, have a nice weekend!