STORM/USD- Potential to Break 9 Months of ResistanceStorm has been capped by this resistance every time it has tried to break through over the past 9-10 months.
A break though here could be just what it needs to bring new money to the table.
The consolidation has been lengthy so if it takes off, you'll know about it.
I'd like to see a daily close above the upper line before getting carried away as historically there has been a solid rejection from this level.
(We have seen a couple of days closing above the lower previous resistance levels and the 200 SMA is finally a consideration as it drags the price up towards it.
Definitely worth keeping an eye on.
Thoughts and feedback welcomed.
Bingaz.
Testingtop
BTC bull run - the dance is almost over!Dear Crypto addicted, fan, lovers, haters, whatever,
in the past days huge capital injection to raise BTC from the annoying sideway 6.5-7k to 8k peak, volume also temporary increased from 4-5MM to 9MM per day.
Is that a reversal of the downtrend to an unexpected uptrend??
I don't think so, we currently are still below the channel top of the main downtrend coming from 20k. (log and linear)
RSI and MACD are strongly signing for a down correction, BTC is overbought and RSI is diverging.
This scenario is very similar to the one we experienced couple of weeks ago.
We are expecting a second green leg to around 8.5-8.7k and then a very strong correction.
So very probable a downtrend in the next hours.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
