It's been a while since I've charted BTC and am using BTCUSD from Bitfinex.
Levels/Areas explained on the chart. Watching to see how the price action plays to the 50 and 200-day moving averages as well as the weaker upper trendline(orange) and the smaller trendline support.
The support/bottom area of the previous descending triangle is now the first area of Resistance.
Volume has fallen off, so that divergence is "iffy"
MACD on Daily is showing selling momentum waning.
We will see a break either way soon but am hoping that the orange triangle formed is not filled out or else that break will be end of March- early April
Levels/Areas explained on the chart. Watching to see how the price action plays to the 50 and 200-day moving averages as well as the weaker upper trendline(orange) and the smaller trendline support.
The support/bottom area of the previous descending triangle is now the first area of Resistance.
Volume has fallen off, so that divergence is "iffy"
MACD on Daily is showing selling momentum waning.
We will see a break either way soon but am hoping that the orange triangle formed is not filled out or else that break will be end of March- early April
