Hello Traders! BTCUSD has been on my mind all weekend. Longing for the Long opportunity to the MOON. :)
For now, Bitcoin is currently testing a Strong Local Resistance Level. Proceeding th elast weeks of July, price rose above weekly resistance & completely ignored thoughts of a pullback. I think price could have trouble at the current level its at now, because it already failed to cleanly break above it twice. The Volume Oscillator has diverged from current Price trend. Which predicts possible downtrend following the Divergence rules. Awaiting for any possible confirmations.
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For now, Bitcoin is currently testing a Strong Local Resistance Level. Proceeding th elast weeks of July, price rose above weekly resistance & completely ignored thoughts of a pullback. I think price could have trouble at the current level its at now, because it already failed to cleanly break above it twice. The Volume Oscillator has diverged from current Price trend. Which predicts possible downtrend following the Divergence rules. Awaiting for any possible confirmations.
If you Like this Analysis give it a Thumbs Up!
Comment Your Thoughts Below on BITCOIN
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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.