Sell wall and increasing accumulation, unlike other cryptos it didn't dip at all today. Once this sell wall breaks it can go up really quick and really high again.
Note
Resistance broken thanks to BTC getting above 40k. I think $90 will happen very fast from here.Note
Also if one was to trade this pennant/flag the traditional way the measured move target is conservatively around $120. We have some potential resistance at $115 so this target would be even more conservative. That's up to 40% move up from current levels. We have confirmed breakout (4h candle close above resistance) and we are in the process of backtesting so right at the trade setup entry area.Note
1h Bearish Divergence on BTC after getting rejected at critical resistance. Bears have the edge right now I'm afraid.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.