BTC hitting strong resistance @ 6900 USD
Testing resistance around 7200 USD multiple times
Death cross 100/200 SMA on the daily
Ichmoku cloud showing resistance on the daily
however, bullish on the higher time frames as we might break this resistance in the coming weeks
Testing resistance around 7200 USD multiple times
Death cross 100/200 SMA on the daily
Ichmoku cloud showing resistance on the daily
however, bullish on the higher time frames as we might break this resistance in the coming weeks
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TP 5600 USD possible long hunter wicks to the upside
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strong overhead resistance @ 7400
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BTC macro structure outlook
-- appears to be forming falling wedge
-- getting heavy resistance from the 0.382 fib retrace
-- above a daily 9 based on TD sequential
-- appears to be forming falling wedge
-- getting heavy resistance from the 0.382 fib retrace
-- above a daily 9 based on TD sequential
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Macro view on the daily
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hopefully we wont go this low but certainly a possibility given the continuation pattern for a falling wedge
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broke out of the rising wedge
forming lower highs in a downward channel
let's see if we can break through the 7200 region first
otherwise, its more downward price action from here
forming lower highs in a downward channel
let's see if we can break through the 7200 region first
otherwise, its more downward price action from here
Comment:
lower half of rising channel or upper half of falling channel
only time will tell
only time will tell
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same fractals in play here
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broke out of ascending channel but getting resistance from .618 fib
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rejected by key resistance @ 9400 and back in the rising channel high probability of more downside action to back test the initial break out
Comment:
uptrend continuation or new downtrend?