End of downtrend? Or just retest of 2D deathcross..
Hello,
BTC had yesterday its "April Fools" pump day.
Now, BTC is in front very interesting resistances.
Looking at the Chart, there are 3 MAJOR resistances.
First Resistance at $6773 which is:
1. 0.5 Fibonacci level, which acted already a lot as a resistance
Second Resistance at $7200-7300 which is:
1. Target of potential Bullflag/pennant
2. Daily 50EMA
2. Weekly 10EMA
3. Monthly 21EMA
Third resistance at $7800 which is:
1. Target of the symmetrical triangle
2. Target of 2Day Deathcross (50EMA and 200EMA)
3. Potential "Bump & Run" resistance line
4. Weekly 21EMA and 50EMA
5. Monthly 10EMA
I doubt that BTC is going full into bullish mode during this corona & financial crisis.
After reaching those targets i want to see bullish divergences on the daily timeframe before im fully going into Bull-Mode.
BTC had yesterday its "April Fools" pump day.
Now, BTC is in front very interesting resistances.
Looking at the Chart, there are 3 MAJOR resistances.
First Resistance at $6773 which is:
1. 0.5 Fibonacci level, which acted already a lot as a resistance
Second Resistance at $7200-7300 which is:
1. Target of potential Bullflag/pennant
2. Daily 50EMA
2. Weekly 10EMA
3. Monthly 21EMA
Third resistance at $7800 which is:
1. Target of the symmetrical triangle
2. Target of 2Day Deathcross (50EMA and 200EMA)
3. Potential "Bump & Run" resistance line
4. Weekly 21EMA and 50EMA
5. Monthly 10EMA
I doubt that BTC is going full into bullish mode during this corona & financial crisis.
After reaching those targets i want to see bullish divergences on the daily timeframe before im fully going into Bull-Mode.
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