Until December, BTC had never broken the top trend line (dotted) which always managed to curb the ATHs. After Dec, that line was broken and we saw 19500.
Since early this week, BTC traded below that line and it is now serving as the new resistance, which is now forming a double top.
Right now MACD in the 1h chart is crossing downwards and I expect BTC to test the lower edge of the BBs. 10750 is a level to watch, but depending on the volume we could even go lower overnight. It will depend on the Asian market. Potential for a short position with trailing stops.
The volume has been reducing today, so watch out.
Thoughts?
Since early this week, BTC traded below that line and it is now serving as the new resistance, which is now forming a double top.
Right now MACD in the 1h chart is crossing downwards and I expect BTC to test the lower edge of the BBs. 10750 is a level to watch, but depending on the volume we could even go lower overnight. It will depend on the Asian market. Potential for a short position with trailing stops.
The volume has been reducing today, so watch out.
Thoughts?