joncc

BTCUSD - Wavetrend Analysis

BITMEX:XBTUSD.P   Bitcoin
BTC is looking a bit weak at the moment. There is significant resistance around the 3600 region. As seen on the VPVR, there is considerable resistance above. Last HVN and area of support I can identify is the 3530-3550 region, which is where the 200 EMA sits on the 1H. Failure to hold these levels would probably bring a drop to the 786 level at low 34xx as seen in the VPVR. Sitting this one out until I get a bit more information. Bias leaning bearish short term, but still bullish in the long run.

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.