Bitcoin decline was contained by 3ema.
Every time price get close to 3ema it get rejected to downside again. In pink circle bitcoin tried to break above but can’t sustain momentum to stay above 3ema and get rejected again to downside and now after it rejection from bottom bolinger it finally holding above 3ema and getting support on it, let’s see by the ending of the day if it manage to close above and 3ema and it will turn from resistance to support and push bitcoin higher to test red resistance band above.
This will be first test of red resistance after strong downmove and first test usually always good opportunity to sell, and let’s see how big players will use it . If no strong sell reaction will be produced upon bitcoin price entering this red band- this will be used by the bulls to push bitcoin with explosive move to upside. Sellers better be ready to push prices down with everything they got and show no weakness in first test of red daily resistance band.
How this daily red resistance band will be broken check my idea attached below
Every time price get close to 3ema it get rejected to downside again. In pink circle bitcoin tried to break above but can’t sustain momentum to stay above 3ema and get rejected again to downside and now after it rejection from bottom bolinger it finally holding above 3ema and getting support on it, let’s see by the ending of the day if it manage to close above and 3ema and it will turn from resistance to support and push bitcoin higher to test red resistance band above.
This will be first test of red resistance after strong downmove and first test usually always good opportunity to sell, and let’s see how big players will use it . If no strong sell reaction will be produced upon bitcoin price entering this red band- this will be used by the bulls to push bitcoin with explosive move to upside. Sellers better be ready to push prices down with everything they got and show no weakness in first test of red daily resistance band.
How this daily red resistance band will be broken check my idea attached below
