Reversal in progress
On the daily charts we can see strong resistance BTC over head between the $5500 and $6100 range. BTC almost reached the lower level of resistance before turning to the current downward leg.
We can see the MACD signal is setting up to confirm the reversal, I expect to see BTC at $4,390, failing to hold this this level we can expect to see a further downward push to $4,100-$4,200 range before heading back to the aforementioned resistance levels, which may take 2-3 attempts to overcome.
We can see the MACD signal is setting up to confirm the reversal, I expect to see BTC at $4,390, failing to hold this this level we can expect to see a further downward push to $4,100-$4,200 range before heading back to the aforementioned resistance levels, which may take 2-3 attempts to overcome.
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