HODLmyRocket

BTCUSD Trendline TA support and resistance lines

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here shows BTC activity vs USD over the last several days leading up to the major correction where BTC struggled to maintain above the line of major resistance that traced all the way back from the previous ATH and the second wave that tested the ATH resistance. At the moment BTC is inside a downward channel but analysis is showing strong signs of intersecting support lines indicating areas of major support. Circled in yellow are zones where BTC has momentarily stabilized before panic selling dumped the price to the next level downward. Should BTC continue to test and fail to climb above the channel of descending resistance that line of resistance will grow stronger until enough panic sellers have exited the market allowing the market to resume it's upward trajectory.
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