BTC Rejected at the Diagonal Support line now turned Resistance
BTC has been rejected at the dotted diagonal line which has acted as support since Dec 12th ,
This support line has now turned into resistance and is also where the large wick to the left was rejected.
What are some options BTC can take? These are challenging questions and ill do my best to answer below .
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a) BTC can drop lower and attempt a bounce at the 34k or 30K support levels.
or
b) BTC can take another crack at the resistance and brute force its way past it , only to be rejected back down .
or
c) Elon Musk shows up after breakfast on Monday Morning with the Doge Posse and they purchase a stash of BTC
pushing price to 52k.
...who knows....could go either way
This support line has now turned into resistance and is also where the large wick to the left was rejected.
What are some options BTC can take? These are challenging questions and ill do my best to answer below .
-------------------------------------------------------
a) BTC can drop lower and attempt a bounce at the 34k or 30K support levels.
or
b) BTC can take another crack at the resistance and brute force its way past it , only to be rejected back down .
or
c) Elon Musk shows up after breakfast on Monday Morning with the Doge Posse and they purchase a stash of BTC
pushing price to 52k.
...who knows....could go either way
Comment:
This current setup also resembles a Bat Harmonic