Bitcoin rejection from bottom bolinger band in progress
This is updated on idea attached below
Bitcoin rejected from bottom bolinger on daily and moving up to retest red resistance band on daily, between 40800-44300.
On 4 hr chart price breaking above red resistance band and retesting it now to check if it will become green support.
Price breaking through bunch of declining moving averages. And bitcoin target is top bolinger band on 4hr and that corresponds with red resistance band on daily. Most likely it will decline from there again.
In idea attached below few possible scenarios of breaking through daily resistance band.
This will be first test of red resistance after strong downmove and first test usually always good opportunity to sell, and let’s see how big players will use it . If no strong sell reaction will be produced upon bitcoin price entering this red band- this will be used by the bulls to push bitcoin with explosive move to upside. Sellers better be ready to push prices down with everything they got and show no weakness in first test of red daily resistance band.
How this daily red resistance band will be broken check my idea attached below
Bitcoin rejected from bottom bolinger on daily and moving up to retest red resistance band on daily, between 40800-44300.
On 4 hr chart price breaking above red resistance band and retesting it now to check if it will become green support.
Price breaking through bunch of declining moving averages. And bitcoin target is top bolinger band on 4hr and that corresponds with red resistance band on daily. Most likely it will decline from there again.
In idea attached below few possible scenarios of breaking through daily resistance band.
This will be first test of red resistance after strong downmove and first test usually always good opportunity to sell, and let’s see how big players will use it . If no strong sell reaction will be produced upon bitcoin price entering this red band- this will be used by the bulls to push bitcoin with explosive move to upside. Sellers better be ready to push prices down with everything they got and show no weakness in first test of red daily resistance band.
How this daily red resistance band will be broken check my idea attached below
