Long

BTCUSD Breakout Possibility - 14th April Descending Resistance

Updated

There is a breakout possibility with first target of around 50-51K if BTCUSD can break the descending resistance which started from around 14th April 2021. Take note that this could also be the beginning of a severe rejection too. Wait for breakout confirmation at least on the 4hr or daily chart where it breaks out and bounces from the descending line to make it a new support instead.

Just sharing an observation. Trade with care and only what you can afford to lose as nothing in life is 100% ever.

Good luck!

Note

Seems to be going to plan. We are coming up to another major resistance region starting at around 49500 to 50500. If we can clear this area next price point we are headed to before more resistance comes into play is at around 56K+

Note

We are currently at a major resistance and forming a bearish divergence on the daily chart. If we break this resistance we will face the next resistance at around 58500. If there is rejection here we must hold above about 43900 to continue this bullish run upwards.

mdyassink

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