The blue downtrend line has been a strong resistance for BTCUSD
since it started to go down after its ATH
. The price bounced back twice after hitting this resistance. But now this downtrend line has been broken. Is it a legitimate breakout or fakeout? The RSI
is still below the resistance line. And the price is now hitting the upper band of BB which will act as some resistance. Next Fib level is 23.60% which is $9200 level. If the RSI
doesn't act as a strong resistance and there is no major FUD, I believe BTCUSD
will easily hit $9200 in the next few days. Let's see!
Constructive criticism is welcomed!