thomas58700

Bitcorn having a hard time getting over our diagonal resistance

BITSTAMP:BTCUSD   Bitcoin
Gann box placed with violet rectangle indicating where our price is hovering/ finding a happy medium for now. Large ichimoku cloud below leaves a lot of support to consider, breaking down through the top of the cloud will be a slow process as bulls don't want to give up their position near 12k. Continuing to attack the 12k violet diagonal. Possibly a Wyckoff distribution...

You can also see we attempted to make a flat bottom wedge , but failed and I'd consider that invalidated or a bullish bias distorting the end of the triangle.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.