BTC facing a big resistance
BTC reached the upper band of this rising channel and has hit that red dashed line I had for months now, it's a resistance which in my opinion is very strong.
I did not expect the pump to happen tonight, indeed I lost money in a short, however now it's hard to predict what's gonna happen. If price goes over this line I'll be bullish, if it remains below there are three possible options, of which the third it's absolutely remote:
1) a decise dump which would test EMA 200 and 44.6K in order to turn it into a support;
2) price hovering close current zone until volume rises again and it finds the strength to go over
3) massive dump <--- I don't see this coming
Considering that despite price rising volume has been lowering I'm leaning toward option 1 unless BTC breaks out 47.5K tonight (at least, my night in my timezone).
So, don't do my same mistake, don't start shorts tonight (to be honest I started yesterday and I didn't remember today TERRA foundation said they were going to buy BTC to peg UST).
Good luck
I did not expect the pump to happen tonight, indeed I lost money in a short, however now it's hard to predict what's gonna happen. If price goes over this line I'll be bullish, if it remains below there are three possible options, of which the third it's absolutely remote:
1) a decise dump which would test EMA 200 and 44.6K in order to turn it into a support;
2) price hovering close current zone until volume rises again and it finds the strength to go over
3) massive dump <--- I don't see this coming
Considering that despite price rising volume has been lowering I'm leaning toward option 1 unless BTC breaks out 47.5K tonight (at least, my night in my timezone).
So, don't do my same mistake, don't start shorts tonight (to be honest I started yesterday and I didn't remember today TERRA foundation said they were going to buy BTC to peg UST).
Good luck
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