Testing or hitting resistance?
Whenever I scan the market for trading set-ups, I will usually look for the exchange with the most historical data to determine in what part of the marketcycle it is currently at.
This does not mean there can not be found many different clues to what the price will do on charts that do not provide as much historical data.
For example: Binance vs Bistamp. Every chart can tell a different story... so dont fixate just on one, because you could miss out on some trades that would you would normally spot.
Depending on how you look at it, Bitcoin is currently testing support.
She is resting on the downwards resistance line, but getting rejected by the Shiff Pitchfork of the entire structure and the 0.618 Fib level of the Modified Shiff Pitchfork of the correction.
For me we must not break the $7700 region to remain in an uptrend.
If we break the next targets are $6800, then $5000 - $5400.
This does not mean there can not be found many different clues to what the price will do on charts that do not provide as much historical data.
For example: Binance vs Bistamp. Every chart can tell a different story... so dont fixate just on one, because you could miss out on some trades that would you would normally spot.
Depending on how you look at it, Bitcoin is currently testing support.
She is resting on the downwards resistance line, but getting rejected by the Shiff Pitchfork of the entire structure and the 0.618 Fib level of the Modified Shiff Pitchfork of the correction.
For me we must not break the $7700 region to remain in an uptrend.
If we break the next targets are $6800, then $5000 - $5400.
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