Bitcoin resistance @ 3000





In a bullish trend the prices had a divergence with the MACD and after a while they dropped out of the trend canal.

They got a strong support at the level of 3.000 (look at volumes), 3.000 is also the 38.2% retracement of Fibonacci.

Buy if prices break the T1 with target roughly at 6.500.

This looks like a mid trend flag: a continuation figure. 
Again: the strong volumes at 3.000 / 38.2% Fibonacci should confirm this view. As usual wait for the prices to confirm the theory at T1.

A less likely path would be the prices to bearish break T2: in that case wait for the pullback test on 3.000 before selling.
If they break T2 given the strong resistance and volumes at that level it could be a strong e fast breakage, maybe too fast to be able to operate on it.

Commenti