Log scale.
Bitcoin has just stopped its rally at the previously formed downtrend resistance line. No volume shown besides the one 4hr volume bar from the rally plus this downtrend line has been stable resistance for months now. With a market as weak as it has been for some time now, I don't see it pushing through without another short squeeze or something similar. If it does, set a tight stop right above the triangle and lines of resistance.
I'm expecting a continuation of the downward trend from here.
Bitcoin has just stopped its rally at the previously formed downtrend resistance line. No volume shown besides the one 4hr volume bar from the rally plus this downtrend line has been stable resistance for months now. With a market as weak as it has been for some time now, I don't see it pushing through without another short squeeze or something similar. If it does, set a tight stop right above the triangle and lines of resistance.
I'm expecting a continuation of the downward trend from here.