BTC - Still testing the resistance line at 7625$

in bitcoin •  5 months ago

Hello all,

Here was the chart of yesterday :

BTCUSD.jpg

Here is the current chart :

BTCUSD.jpg

The test is in progress since yesterday but we didn't have yet the volume needed to be able to break this big resistance line. It starts to be long and I'm afraid that if we don't do it very soon now, the drop will come back very heavly. Let's hope the BTC will break this line during the week-end. I really advise you to use stop just in case if the drop comes suddenly back.

I wish you massive profits,
Cryptopassion.io

Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

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@cryptopassion This post helped me to understand easily and fast the position of bitcoin; just that.
Thanks for share it. Hope to get this support line.

excelente informacion lo felicito

Great post sir... its so informative and i like your sharing...thanks for share.

I believe it is wise to avoid trading at this time.The market is consolidating. Price can do anything at this moment, if it breaks and close above the resistance level, then we could see a short term rally upwards before it starts to consolidate again. On the flipside, if price continues down and break the support level, then it could rally down to retest the previous swing low. Just looking at your charts, the probability of a downtrend seems more likely as there is a lot of tension at the resistance level above.