Bitcoin

Bitcoin Daily - heading towards resistance with strength

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Bitcoin is continuing to head towards that red 236 Fib circle while being Kept below the 2.618 Fib Extension
This could see PA Drop back to the 92K area where it will bump into the Cup shape it has created.
This Cup has strength . It has been tested 3 times previously and on each occasion, PA Bounced well off it
The overhead resistance and the Daily MACD are two reasons why this may happen
https://www.tradingview.com/x/vPk9r6c4/

As you can see, the Daily MACD is touching its signal line, potentially Bearish but most likely only on a short term basis
But we should be ready incase things continue to turn Bearish, as it did before. See the rise in MACD on the left.
Not the similarity in the Histogram on both occasions.

Today, we have the DXY support group, otherwise known as the FED reserve, announcement on Rates.
This could trigger a move in either direction, depending on the choice.
Expectation is for Rates to remain unchanged

PA has the ability to move in both directions,.
We need to wait and see

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