BTCUSD broke the uptrend. Normally after a trend is broken, the price retests the trend to sell more later.
So bitcoin is facing a heavy resistance zone, where if your are long, its a good idea to take profits. BTCUSD needs some heavy volume and momentum to break that resistance zone.
The resistance zone has to be watched closely. Either for short entry or taking profits.
If the price is just retesting the trend break a heavy drop to 2800$ in a sort of black swan event ist possible. Remember to adjust your stops. Good trading everybody!
So bitcoin is facing a heavy resistance zone, where if your are long, its a good idea to take profits. BTCUSD needs some heavy volume and momentum to break that resistance zone.
The resistance zone has to be watched closely. Either for short entry or taking profits.
If the price is just retesting the trend break a heavy drop to 2800$ in a sort of black swan event ist possible. Remember to adjust your stops. Good trading everybody!