Bitcoin has been on a pretty strong run the last 4 hours, but it doesn't look to be breaking either the 6900 or 7000 resistance points just yet.
The volume looks a little weak on this push.
6945 is the .618 fib retracement from the ATH to the chaos low during the Bcash bull run that we saw. There have also been 3 daily lows of 6900 in the last week or so, so it appears a strong resistance point for now.
We do have a small divergence on the 1hr MACD, which is bearish but other time frames are ok.
Not shorting here, but a retrace to 6700 (previous resistance breakout) or 6650 (0.5 fib) at least wouldn't surprise.
The volume looks a little weak on this push.
6945 is the .618 fib retracement from the ATH to the chaos low during the Bcash bull run that we saw. There have also been 3 daily lows of 6900 in the last week or so, so it appears a strong resistance point for now.
We do have a small divergence on the 1hr MACD, which is bearish but other time frames are ok.
Not shorting here, but a retrace to 6700 (previous resistance breakout) or 6650 (0.5 fib) at least wouldn't surprise.
Comment:
That might be all we'll get, with a bullish flag forming on the 15mins we might be about to head higher and retest 6900/7000 resistance