Keeping this simple.
BTC has been rejected off the daily ascending midline channel.
Currently testing broken wedge support (old resistance).
MACD is showing potential bearish bearish crossing which will lead us right back into the rising wedge.
If the rising wedge does play out and we break support, good chance to see 47,000 - 48,000 area before another major trend up.
55,000 - 56,000 looks like a heavy supply zone for BTC.
If we do not conquer these supply / resistance cluster. We can for sure to expect that to happen once stimulus check roll out.
BTC has been rejected off the daily ascending midline channel.
Currently testing broken wedge support (old resistance).
MACD is showing potential bearish bearish crossing which will lead us right back into the rising wedge.
If the rising wedge does play out and we break support, good chance to see 47,000 - 48,000 area before another major trend up.
55,000 - 56,000 looks like a heavy supply zone for BTC.
If we do not conquer these supply / resistance cluster. We can for sure to expect that to happen once stimulus check roll out.
