Bitcoin within wedge - 2 important resistances before next run
Bitcoin price reached after todays breakout from short term down trend channel the upper descending wedge line which is strong resistance. Market need to break this lind and the drawn middle term trend line to break out from correction movement. Otherwise we will see straight down movement to drawn buy area 1.
- 50 day moving average crossed 100 day moving average which is bearish indicator
- market price is near 200 day moving average which is support for price, expect fast down movement (as drawn with the blue line) if this red moving average line breaks down and candle close under it.
- 50 day moving average crossed 100 day moving average which is bearish indicator
- market price is near 200 day moving average which is support for price, expect fast down movement (as drawn with the blue line) if this red moving average line breaks down and candle close under it.
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
