Looks like we are going to 300B again.
After trying to break the resistance around 363B and getting rejected 5 days throughout October, it seems like we are losing momentum, BTC.D is up and created a round bottom which got rejected at the resistance today in its first attempt, however I believe it will break up soon. We are seeing the gains in alt's getting erased and my overall look in the market is bearish. As you can see in my chart we are currently in a mini rising wedge inside of a bigger rising wedge that developed after a huge head and shoulders, all of this in the 1D timeframe. The RSI is still trapped in a downtrend confirming range (60 acting as resistance). Also, with 6 hours to close the candle, it seems we are printing a long-legged Doji and the 100 and 200 EMA's are outside of the pattern so this makes me believe they will not hold as support in case of a breakdown. I currently do not have any longs open and would advise against it. However, I'm just a normal person so do not take all I say as the absolute truth. If you believe I'm wrong please let me know your perspective in the comments below.
Note
Blasted right through that resistance like it was nothing, let's see if the top of the big rising wedge will hold or if the bullish momentum of bitcoin is strong enough to break to the upside. With BTC's pump today after the news from PayPal and it's strong push keeping the uptrend healthy and alive, I can start to consider turning bullish. Edit: Is that an ascending triangle I see forming together with the wick from today and the tips of August and September? Maybe we will have an explosion to the upside soon... or maybe the resistance makes us repeat history again?
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