BTC/USD: Tested resistance now to test support
Updated
- BTC has failed to breach the 10-month resistance trend line currently lined up at around $6,500.
- Bitcoin will now likely test the $6300-$6,350 support area, or face falling to $6,200 and retracing the recent rally.
- 15 Minute RSI is bearish (mid 30s) but with lots of room to drop to oversold levels (ie around 15-20).
- Good 15M volume like yesterday evening which could swiftly change the outcome of a drop or bounce today.
Comment
Still sideways trading, rejected perfectly by the resistance trend line three times however. Still expecting a drop to support, or more sideways trading...
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