BTC testing 36K stronghold resistance - setback to 30K expected

2 בנוב׳ 2023

If BTC price action will leave the stronghold resistance of 36K USD behind in the days to come, the days for cheaper buy-ins will be over. However, I do not expect that to happen. I rather expect the 36K stronghold resistance will strike this time and BTC price action will be reflected back down to the 31K level. There will be a reasonable level to take further long positions, as the 31K level ist still within the channel of long-term growth.

9 בנוב׳ 2023

הערה

see the considerable bearish divergence in the hourly timeframe. I suppose we are in a situation pretty similar to June/July 2019 rather than at the beginning of a new bullish frenzy as in Nov. 2020. To support this opinion, compare the 50 & 200 SMA in the daily timeframe.