Bull run is over, volume is dwindling testing the 303 support line, each peak past $340 is lower and lower. Strong support on the 62% fib level ~230-240 if things go south. If we want to break upwards we need some news, otherwise I think the newly verified money on Coinbase/Gemini from the past few weeks is starting to dry up and the weekend will be bearish.
We are arguably in a bull pennant if you draw a trend line from the $115 on May 27 but I think this rocket is out of fuel unless volume picks up bigly
We are arguably in a bull pennant if you draw a trend line from the $115 on May 27 but I think this rocket is out of fuel unless volume picks up bigly
Note
didnt quite reach the resistance, moving averages crossing on the 4h with low volume..will be floating around 303 by end of day tomorrowNote
Possibly gearing up for a retest of 270sNote
This got ugly but bounced directly off of the support line!!
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Follow me on Twitter! @LincolnDevine
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.