RE: Bitcoin (BTC) Evening Update: Seller Strength is So Sapped, They Can't Beat on Bitcoin Much Longer!

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Bitcoin (BTC) Evening Update: Seller Strength is So Sapped, They Can't Beat on Bitcoin Much Longer!

in bitcoin •  7 years ago 

the green upper resistance to the larger wedge formation is currently being tested. this needs to be broken before an upwards trend to the blue resistance line where one more bounce to the downside is likely. Note also the two fractals in the gray box's and the similar position shown by the green circles.

macro perspective

the green upper barrier has been rejected a few times already on the hourly chart and price is testing the 200 EMA. it is clear there will be a break to the upside or downside in the next 24 hours as the volume is reducing to a crawl.

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time of breakout above wedge support line negating E.