Bitcoin's runs into $3,600 brick wall!
Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅ - Bitcoin finally showed some signs of life over the weekend as price moved sharply off lows
- On the last retest of lows, price bounced sharply above the S/R flip region but was on lower volume
- After retesting the breakout zone, Bitcoin continued its move up straight into supply before getting rejected
- After the EMAs turned up bullish, we have yet again rolled over bearish and trending lower
- We just had a very bad squeeze higher, raiding shorts and also trapping a lot of bulls playing the breakout move
- $3,600 remains a strong resistance level and that last move higher getting rejected is hinting at a revisit of lows
- If we could break that supply level, next stop would be $3,800
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