BTC continues its crazy run but ran into serious resistance here at around $5,500
It was an area where we paused right before the dump to new lows. If we can break above this level than 5800-6000 is on the cards.
Hedging long positions here would be a smart idea in case we do pullback as the gaps below are plentiful right now to go and close
A close back below the breakout and closing of the gap right under would spell pullback lower into the 4ks
Thanks guys
It was an area where we paused right before the dump to new lows. If we can break above this level than 5800-6000 is on the cards.
Hedging long positions here would be a smart idea in case we do pullback as the gaps below are plentiful right now to go and close
A close back below the breakout and closing of the gap right under would spell pullback lower into the 4ks
Thanks guys
Comment:
So far, called this drop to the tee! Supply zone filled nicely and caused that nice drop. Whether this is profit taking or the start of a trend change still needs to be seen but this candle is U-G-L-Y