Bitcoin is reaching one of the most important resistances that it has, this resistance has been maintained since the beginning of 2018.
Most plausible scenario:
Bitcoin bounces downward looking for levels of $ 3,500. This is the most probable scenario because overall Bitcoin is still bearish, and I will change my mind once I see signs of the opposite.
Alternative scenario:
Bitcoin breaks resistance with strength and continues to maintain an upward trend. But attentive to the weekly chart that shows a moving average (25) very close to the current price that will very likely be a strong resistance as well.
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Slowly adding sell positions in the above blue zone is what I will be doing these upcoming days, if Bitcoin surpassed that resistance it would mean the start of a bullish momentum so we must look carefully what the market has prepared for Bitcoin.
I will be replying every comment, so feel free to publish here your own analysis or ask any questions.
Most plausible scenario:
Bitcoin bounces downward looking for levels of $ 3,500. This is the most probable scenario because overall Bitcoin is still bearish, and I will change my mind once I see signs of the opposite.
Alternative scenario:
Bitcoin breaks resistance with strength and continues to maintain an upward trend. But attentive to the weekly chart that shows a moving average (25) very close to the current price that will very likely be a strong resistance as well.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Slowly adding sell positions in the above blue zone is what I will be doing these upcoming days, if Bitcoin surpassed that resistance it would mean the start of a bullish momentum so we must look carefully what the market has prepared for Bitcoin.
I will be replying every comment, so feel free to publish here your own analysis or ask any questions.
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Commento:
As you can see Bitcoin corrected downwards and we are now below the resistance, we could see Bitcoin touching the line again before falling. Let's look closely, this looks interesting.
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Commento:
Already up 180% on BitMEX with 15% leverage. Time to set SL on entry, in case we see an upside rebound we are now covered. Let's watch closely the evolution of the trade.
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