Bitcoin reacted to major resistance again...Now what?

2 พ.ค. 2021

BTCUSDT
Hello Bitcoin lovers! As told before, 58000 levels acts as a major resistance level, holding the price from breaking out higher. Even when the price succeeds to breakout higher, it's doomed to go down the level again.. :(
Ok, enough of the fairytales, as you see in the chart bitcoin price has recently reacted to its major resistance ( which is the greatest 1.6 major Fibonacci extension level, so far) , and historically it tend to do a major sell of after the reaction, in fact 3 out of 4 times, as shown in the chart. So best course of action seems to be watchful waiting, to see if the price finally breaks out the level, or starts to go down. If the latter happens, as stated in my last post, 21 EMA would be a good support level, for the price to rest a bit :)

By the way, Don't forget to comment your thoughts and questions. I'm more than gland to talk to you...

6 ส.ค. 2021

บันทึก

Told you! ;)