The blue downtrend line has been a strong resistance for BTCUSD since it started to go down after its ATH. The price bounced back twice after hitting this resistance. But now this downtrend line has been broken. Is it a legitimate breakout or fakeout? The RSI is still below the resistance line. And the price is now hitting the upper band of BB which will act as some resistance. Next Fib level is 23.60% which is $9200 level. If the RSI doesn't act as a strong resistance and there is no major FUD, I believe BTCUSD will easily hit $9200 in the next few days. Let's see!
Constructive criticism is welcomed!
Constructive criticism is welcomed!
Next major resistance I am seeing at $11300-11400 level. It is 38.20% Fib level resistance and as well as previous price resistance. It is imperative for BTC to break this level otherwise we may see a sharp fall in price if it fails to.