BTC/USD- Incoming Rejection?
Whilst it's great to see some green candles over the last few weeks keep in mind that 90% of retail investors are not selling and are purely trying to claw their way back.
This is distorting the perspective and keeping things greener than perhaps they should be.
TA suggests we might see a pull back over the next 48hrs and retest the breakout. Surprisingly however, the RSI suggests there's actually still room to move higher without topping out.
Considering the SMA I think a pull back will be healthier than a fast push towards the next major resistance.
(Pull back to 18300USD seems realistic but the hype may mean we are supported around 21K)
Irrespective it's nice to see some action in the markets however the next week plays out.
As always,
Just my thoughts and TA.
Not financial advice so DYOR and DGR (Don't Get Rekd)
Bingaz.
This is distorting the perspective and keeping things greener than perhaps they should be.
TA suggests we might see a pull back over the next 48hrs and retest the breakout. Surprisingly however, the RSI suggests there's actually still room to move higher without topping out.
Considering the SMA I think a pull back will be healthier than a fast push towards the next major resistance.
(Pull back to 18300USD seems realistic but the hype may mean we are supported around 21K)
Irrespective it's nice to see some action in the markets however the next week plays out.
As always,
Just my thoughts and TA.
Not financial advice so DYOR and DGR (Don't Get Rekd)
Bingaz.
Related publications
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.