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BTC Signals Uptrend While Meeting Strong Resistance
This channel has been used as support and resistance in recent weeks and continues to validate.
This signals an uptrend, but coincides with major resistance at 50,300-51,500
A close over 51,500 would create a medium-term bullish continuation.
A close below the lowest trend line would negate the channel and signal a break to/below 46,000
Highest probability trade would likely be on a break above 51,500, retest to/near 51,500 and then an entry at the upward continuation at approximately 52,000.
This signals an uptrend, but coincides with major resistance at 50,300-51,500
A close over 51,500 would create a medium-term bullish continuation.
A close below the lowest trend line would negate the channel and signal a break to/below 46,000
Highest probability trade would likely be on a break above 51,500, retest to/near 51,500 and then an entry at the upward continuation at approximately 52,000.
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