BTCUSD: Rejected off 30,000 Three Times

Bitcoin has been rejected off the 30K level three times in the past week. A wedge between the 100-hour volatility MA and this upper ceiling has continued to narrow as Bitcoin oscillates within.

In the next couple hours, closing hourly under the 29250 MA may drive Bitcoin down to the next level of support, the consistent 27250. Using the volatility MA as support again may result in Bitcoin breaking above the 30K level.

Happy Sunday & happy trading!
wbburgin

評論:

Long have been closed and waiting until 27300 until opening shorts (volatility lower band has risen).

評論:

BTCUSD rose to the current MA of 28880 after nearly meeting the lower volatility band (28000) and was sharply rejected. I expect a fall down to the lower support unless it can successfully break through this MA. On falling through the low support I will initiate shorts.