OrionAlgo

Can BTC break above our center trend???

Short
BITSTAMP:BTCUSD   Bitcoin
Woooo weeeeeee. Things are lookin' spicy right now. Even though BTC recently made a new ATH we still actually haven't broke our center support/resistance line from the previous cycles. It has proven to be a worthy opponent multiple times, each one resulting in over 30% dumps. Orion is also showing a possible reversal right in the Daily, which is telling me that this is truly a resistance zone. Not only that, but the signal line is showing a bearish divergence with the price. If the trend does reverse in the next day or two, we will see if the bottom of our rising wedge will hold us up. Then, Bitcoin will need to push past our center S/R and solidify it as a support before we can continue this bull run. If we can't..... someone please save our souls. I dont know about you peeps, but my boots are shaking. Good luck to us all.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.