Bitcoin Swing Analysis
Momentum seems to be fading as BTC pushes higher on less volume. Previous buys in the 3500-4000 range could be partially liquidated around 6000-6200 level with a possible over performance to the $6500 level. The bulls will be met with strong resistance between 6000-6500 and unless we see a significant push in volume, I don't think we will break this level.
If this reversal takes place I will be looking for a re-test of the intersection of the 5 year uptrend and the 18 month downtrend lines towards the end of May. Boxes represent Sell and Buy zones.
If this reversal takes place I will be looking for a re-test of the intersection of the 5 year uptrend and the 18 month downtrend lines towards the end of May. Boxes represent Sell and Buy zones.
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