Looking at BTCGBP - Weekly analysis - Strong Resistance at £8228 - I'm looking to go long around £6800 - if BTC breaks through £8228 then will look to see if Resistance then becomes support going forwards- only need one confirmation then we are off!
I produced the trace lines for both bullish and bearish results and as you can see it tracked shortly along the bullish predictions and immediately dropped to the bearish prediction line. Currently it’s following bearish predictions quite closely. Further TA over next couple of hours and where the bottom for this plummet is and if we will start to see the halving...
Rising wedge / Symmetrical triangle forming symbolizing that BTC will continue an surge up until the diagonal resistance is hit.
After this it will then go down and bounce of the other diagonal support line for which the next time it bounces of top resistance we could see a
down fall especially if Brexit takes place tomorrow.
RSI and MACD similarly confirm this...
After the recent pump (hope you all sold ahha) we will now see a drop in the large range of 350-600 and short range of 500-600.
It will hit a previous resistance/support area and will bounce of the support line seeing us into a higher rally than previous.
Entry will be when a sign of increase will show (1-2 days).