nummus

Support turning resistance?

KRAKEN:XBTUSD   XBT / USD
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On the chart you can see that BTC has arrived to a trendline support. If if doesn't brake it, is would become resistance, which would not be a bad sign.

A negative sign right now is a decreasing number longs. Today they decreased rathen than increased. For a sustained rally we would need the longs to steadiliy increase.

One last thing, you have probably noticed a multiple RSI divergence on the 1H, which suggest we'll soon see a retracement. After the retracement, BTC should brake the abovementioned trendline or else... Let's see what happens. Safe trades!

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