monkeytradinggranada

pull back for test of jan downtrend

BITFINEX:BTCUSD   Bitcoin
lots of people have been saying for days that we are out of the downtrend - log scale (black line is the downtrend since january which we haven't even touched - furthermore this converges with the peak of our last rise around 11.8) until these two resistances are cleared people should be very cautious.

Finally there are huge divergences on multiple timeframes across RSI and MACD

Fiat is king and caution is advised

edit: as i was writing this we had the beginning of our pullback. Below the yellow wedge and anything up to the 61.8 fib comes into play
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