- After yesterdays posting, we saw BTC head straight for the supply zone near $4000
- We did however find it as tough resistance and rejected straight away
- Later attempts failed to get back near the original moves high and have since fallen back down into the $3600's
- This last dump did yet again have volume behind it, which tells us that the selling has not exhausted yet
- Buybacks aren't being bought with force, which gives sellers the confidence to hold and to continue adding to their shorts on every bounce
- Most are waiting for the retest of $2800 but when everyone waits for the same level to buy, we more often than not don't attain those prices
Thanks guys!
Comment:
Stops swept and now we move up. Look for a test of resistance again here and a break could be bullish for a continued bounce