BitcoinUpdated BTC testing 36K stronghold resistance - setback to 30K expected
If BTC price action will leave the stronghold resistance of 36K USD behind in the days to come, the days for cheaper buy-ins will be over. However, I do not expect that to happen. I rather expect the 36K stronghold resistance will strike this time and BTC price action will be reflected back down to the 31K level. There will be a reasonable level to take further long positions, as the 31K level ist still within the channel of long-term growth.
Note
see the considerable bearish divergence in the hourly timeframe. I suppose we are in a situation pretty similar to June/July 2019 rather than at the beginning of a new bullish frenzy as in Nov. 2020. To support this opinion, compare the 50 & 200 SMA in the daily timeframe.
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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.