Good morning all. Price is now trading under the rising support line and has already back tested it with failure on the 1H chart. We should expect a continuation down but perhaps not before back testing the line one more time on higher timeframes. The 4H chart is just now showing negative momentum on the MACD. A reversal now above the support turned resistance would be a good signal for movement up. As the situation unfolds it would seem at the moment we might be seeing BTC however over $10,00 rather soon.
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short term 15 minute chartNote
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Short term update, retest of resistance of resistance.
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Wedge breakout!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.