PolarHusk

BTC/USD (40k Area Acting Resistance?)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
💎Technical Analysis Summary💎


BTC /USD

-Bitcoin is currently testing the mid resistance area after a 40% increased from the 29k region
-This zone is a confluence of previous tops from January 8, May 26, June 15 trading
-Also, the 100 Moving Average is sitting inside this zone
-Take note, the RSI hit the 70 level or overbought territory
-After 9 trading days with all green candles, it is potential painting a red day
-If BTC tops out or slows down from here, expect a mini consolidation range
-A correction is likely to happen if not yet then BTC might break the 42k zone
-Let us wait and see which way the market will go within 24hrs-48hrs
-Good luck traders and stay safe!



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Comments

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Seems logical, thanks for sharing.
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