Bitcoin on Resistance
Bitcoin is getting closer to a critical support and resistance level. In the past hours, it tried to break out but bounced.
We have two scenarios :
1-Bitcoin breaks out and after an accumulation pumps to the 24500 area again.
2-Bitcoin doesn't break out and we start tracking the next critical support level(20700)
- CCI at -59, RSI at 46 in the short term it should move up but in the long term it can go both ways.
-ADX is 13 which means there is no trend.
- The momentum is negative which means, more probably the accumulation will finish with an up move.
-Moving averages say negative in short term but positive in long term.
We have two scenarios :
1-Bitcoin breaks out and after an accumulation pumps to the 24500 area again.
2-Bitcoin doesn't break out and we start tracking the next critical support level(20700)
- CCI at -59, RSI at 46 in the short term it should move up but in the long term it can go both ways.
-ADX is 13 which means there is no trend.
- The momentum is negative which means, more probably the accumulation will finish with an up move.
-Moving averages say negative in short term but positive in long term.
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