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jpbrown1023

BTC - Can the 100MA reject Bitcoin for the 3rd straight time?

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Bitcoin (COINBASE:BTCUSD)  
jpbrown1023 Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators BTCUSD BTC BTCUSDT btcusdlong btcusdshort
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trendanalysis chartpattern indicator btcusd btc btcusdt btcusdlong btcusdshort
Looking at the 4-hour chart, I'm still under the belief that Bitcoin is correcting. The current price action is right on 100MA which has rejected the price 2 times before. We'll see if it can make three. I think a breakout above this level to the 200MA would be a positive sign of a short-term reversal. The top of the channel would be the key resistance level to break for BTC. If Bitcoin were to break this level, I would expect serious bullish price action. However, if BTC fails to break the 100MA, I would expect the price to fall to the uptrend around the .5 Fib retracement level or possibly even lower to support at the bottom of the channel.
Comment:
snapshot
Key moment here as the price reaches to 200MA
Comment:
snapshot
Upper target hit. I'd expect a pullback, so I'm going into USD to see how the price reacts.
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