BTC now has decrease in volume and increase in price that is a sign of lack of interest in the market.
We are approaching the first resistance line close to 786 line and 50 EMA is closing in as well. We are in the wedge formation and accumulation of momentum, which can result in sudden drop in price as we have seen few days ago.
After the brake there are two support lines 5400 and 4700 if the first brakes, see you at 4700.
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This analysis is meant not for trading, but for educational purposes.
We are approaching the first resistance line close to 786 line and 50 EMA is closing in as well. We are in the wedge formation and accumulation of momentum, which can result in sudden drop in price as we have seen few days ago.
After the brake there are two support lines 5400 and 4700 if the first brakes, see you at 4700.
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This analysis is meant not for trading, but for educational purposes.
Comment:
FYI, the increase in price with decreasing volume is a sign of "Big boys" closing positions and only small players participating in trading. That was one of indicators for the last financial crisis.