After looking at the 4H BTCUSDT chart on Binance, I couldn't help but ask myself "where did all the volume go?" BTC is hitting a really significant resistance level after gaining 50% in a month. Given the lack of volume in April and the moderately higher high in price below that key resistance level, I think this may be distribution here and we could be in line to revisit lower support levels before moving up again. I think the inverse head and shoulder neckline is the most likely candidate. However, BTC never ceases to amaze me and might pop above this resistance level and continue on upward. Plan for A, prepare for B. Let's see what happens.
Cheers!
Cheers!
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We hit our
25K
target level and had a nice bounce back up to $30k. We might flag here and break out to the upside or it's possible we retreat back to the support trend before moving onto new highs. Until we break above $32k, we are still under a significant resistance level.
25K
target level and had a nice bounce back up to $30k. We might flag here and break out to the upside or it's possible we retreat back to the support trend before moving onto new highs. Until we break above $32k, we are still under a significant resistance level.
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