Hello guys,
BTCUSD is in a very tricky situation. In fact, after several attempts to break resistance area at $7800, now it shows a significant weakness
as all indicators point out. Prices are near the trend line supporting the rebound movement started at the beginning of February, but it does't seem
to have enought strenght to rise and come back to the resistance area.
At this point BTCUSD has two ways: to rebound toward $7800 (option not accreditated at the moment) or to break $7150. If this second option were verified then it would go back to $6500 area, where there is a support area and then, if it fails to restrain sellers, it likely goes to $6000 area.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
BTCUSD is in a very tricky situation. In fact, after several attempts to break resistance area at $7800, now it shows a significant weakness
as all indicators point out. Prices are near the trend line supporting the rebound movement started at the beginning of February, but it does't seem
to have enought strenght to rise and come back to the resistance area.
At this point BTCUSD has two ways: to rebound toward $7800 (option not accreditated at the moment) or to break $7150. If this second option were verified then it would go back to $6500 area, where there is a support area and then, if it fails to restrain sellers, it likely goes to $6000 area.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
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Strategy closed