Deabers

BTC one hour look out for resistance 10550

BITFINEX:BTCUSD   Bitcoin


Resistance at 10,550 correlates with 200 MA on 1 hour chart. watch this closely as it could be a reversal but will likely shape another Inverted Head and Shoulders if it hits.

I drew in these arrows yesterday around 10,000 on its way down.

Not meant for trading advice but a solid number above 10600 will move to over 11. If we break the channel at 11 for 4 hours we will hold above the downtrend channel. if we retreat from 10550 we will go down to retest 9700. If that fails then the next resistance is 9300. a reversal from 9700 would form Inverse Head and shoulders.
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