Bitcoin Looking To Retrace following 41k Resistance Zone
Following the Sunday's crash, Bitcoin continued the week with a convincing rally with a breakout from downtrend channel before failing to produce higher highs on the 4 hour chart. Why is this?
Bitcoin is facing a strong resistance zone at $41,000 despite notable volume. It's likely for Bitcoin to retrace to $36,000 over the weekend before charging to the peak of the upward trend at $45,000 next week.
The MACD showed a brief sell signal on the hourly charts before turning green again, however negative volume is likely to loom over the coming weekend till retail and institutional investors regain full confidence.
Bitcoin is facing a strong resistance zone at $41,000 despite notable volume. It's likely for Bitcoin to retrace to $36,000 over the weekend before charging to the peak of the upward trend at $45,000 next week.
The MACD showed a brief sell signal on the hourly charts before turning green again, however negative volume is likely to loom over the coming weekend till retail and institutional investors regain full confidence.
Nota
Update: Target has been reached, however in the unlikely case that this resistance is penetrated then we're likely to drop all the way to $31,000.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.