jpbrown1023

BTC - Hitting Strong Resistance, Be Careful of a Fast Pullback

BINANCE:BTCUSDT   Bitcoin / TetherUS
I'm being cautious here as BTC has had a difficult time getting past the $38,000 mark. Since the last time we broke $40k, we've tested this area 5 times and each time the price has been rejected. Looking at the one hour chart, I can see bearish divergence which is causing me to hesitate. One could argue that this divergence in moderate in strength, but seeing the difficulty BTC has had to break and hold this area, I'm going to err on the side of caution. I think the move might be fast so I will wait for Bitcoin to definitely show me which way it is going.
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.