BTCUSD meeting significant resistance @9000 level. I have heard theories that significant resistance & profit taking is anticipated at 10000 level so this significant resistance is the result of people acting before this happens to take profits.
A number of signs would support taking a short-term short position with an aim to take profit at the 8700 level or stop losses at the 9150-9200 range. The support includes the following:
-Significant resistance at the 9000 level
-Bearish divergence RSI on the 4hr chart showing that directional momentum is not confirming price action
-Volume is lowering on the green candles & increasing on the red candles
A number of signs would support taking a short-term short position with an aim to take profit at the 8700 level or stop losses at the 9150-9200 range. The support includes the following:
-Significant resistance at the 9000 level
-Bearish divergence RSI on the 4hr chart showing that directional momentum is not confirming price action
-Volume is lowering on the green candles & increasing on the red candles