BITCOIN: Will it Get Rejected Again?
Hello, traders!
BTC is once again showing signs of rejection, so be prepared. In the past, we saw a similar situation where BTC was rejected from the same resistance trendline.
The RSI is in the overbought zone, indicating a potential loss of momentum. At this point, we need to be cautious with our leveraged long positions. If rejection occurs, we can expect the price to drop to around 62k, where the 100 EMA serves as support.
For a continued bullish move, BTC must break above the resistance trendline, which could lead BTC towards 69k or 70k.
Key points to watch:
~ Resistance trendline: Rejection is likely.
~ Support level: A rejection could bring BTC down to the 62k support (100 EMA).
~ Bullish continuation: A breakout above the resistance trendline.
Make sure to do your own analysis and research before making any decisions.
BTC is once again showing signs of rejection, so be prepared. In the past, we saw a similar situation where BTC was rejected from the same resistance trendline.
The RSI is in the overbought zone, indicating a potential loss of momentum. At this point, we need to be cautious with our leveraged long positions. If rejection occurs, we can expect the price to drop to around 62k, where the 100 EMA serves as support.
For a continued bullish move, BTC must break above the resistance trendline, which could lead BTC towards 69k or 70k.
Key points to watch:
~ Resistance trendline: Rejection is likely.
~ Support level: A rejection could bring BTC down to the 62k support (100 EMA).
~ Bullish continuation: A breakout above the resistance trendline.
Make sure to do your own analysis and research before making any decisions.
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