BITCOIN - Before you get excited, consider this resistance level
I'm sticking to the trend and saying that Bitcoin is still correcting. After looking at the daily chart, I noticed that the price action was catching resistance at the dotted white trend. This acted as support on the daily candle two weeks ago. But since we broke through this support level, we must consider it as a probable resistance level. If the price manages to break this level, I will move my attention to the top of the pink channel around $11,700. However, failure to break this level could result in a $2,000 correction to the green trend and .5 Fib Retracement level. I'm staying in fiat and waiting for confirmation.
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Overhead resistance on price action and indicators. We'll see who will win the battle between the bulls and the bears.
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200MA on the 4-hour chart. Notice how it has been support this entire run until recently. Now it is acting as resistance.
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200MA rejects it again