cryptoGats

Bitcoin Wow! - Once again.

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
this is the 1D timeframe and you can see that Bitcoin is facing heavy resistance -- represented by the black line going across. Just what does that black line represent and why is it important? Well, if you look at the 1M (One-month timeframe) you will see that BTC has not been able to close the month above exactly this point ($10,800) This will be the third month in a row that it does that, It may mean that it needs to go back down to pick up more buyers in order to break through this barrier. Back to the 1D (1-day timeframe), you can see that BTC is trying to overcome the 50MA once again (Which was has done before) but once again in a very weak way. All the signs are pointing to BTC going back down to the trendline at $10,080 or $9,800. The indicators are split, so it is best to stay out, however, I would bet we have a down move coming. NEO however, is looking good to go into at 10.00. Don't forget to follow me to get a list of which alts to jump into when the time comes.

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