BTC to Respect Resistance ?

Hello Traders,

Apologies for the inactivity,

New Thesis on BTC, points to consider;

- BTC bounced from previous support zone at approximately $9000
- Running into resistance zone at approximately $10800 - $11000
- EMA's crossing over bullish, but this is insignificant considering all other bearish indicators
- Stoch topping out, downwards momentum in play
- Low volume on 4hr candle close after initial push (Volume Climax)
- Long term downwards trend on RSI
- VPVR shows lower volume transacted from support and resistance area

BTC is more likely to respect this Resistance level at $10,800 - $11,000 as stoch is crossing over bearish, with the market structure putting in HL's and LL's a retracement to around $8,200 is more likely, which is the next support zone


What are your thoughts? Please leave a like and comment

and remember,

“Money is made by sitting, not trading.” – Jesse Livermore