Looks like bears got a bit ahead of themselves as the beartrap was confirmed with a retest of $380s here on BTC/USD. Chart above is from Bitfinex 4H chart.
Zooming out to the 12-hour candles at Houbi you can see the historical relevance of the level we're at. It was pretty strong resistance earlier in the month at the 2500-2700 CNY area:
Zooming out to the 12-hour candles at Houbi you can see the historical relevance of the level we're at. It was pretty strong resistance earlier in the month at the 2500-2700 CNY area:
Momentum looks like it has faltered for now, but we could get a breakout and make a serious move up. Sentiment is pretty neutral in the futures markets. Small premiums on weeklies and quarterlies, nothing special.
If we fail to make any meaningful move upward this is a hot level for people to sell.
If we fail to make any meaningful move upward this is a hot level for people to sell.
RSS Feed