BITCOIN has experimented another notable move a few hours ago...
During that move, BTC has touched and broken out for short time the Mid-term Resistance line but it came back down immediately after.
Many people is claiming for the arrival time of the reversal but, in my opinion, we are still far from that confirmation. Why?:
- The volume keeps being so small, no new money is entering...
- The manipulators still there, trying to drag the market with their strategies...
- BTC did not have the power to overpass the previous high (see the chart)
- On the daily chart the 200sMA is still too high. We need that 200dMA crosses the price line which is currently at the level of the previous high
For the time being I am keeping my bearish scenario. We need one more low, (C), touching the MID-Term Support and so, allowing the 200dMA approaching the breakage.
Be Patient.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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by toofasteddie
