Hello Friends! BitBotly here with a quick and dirty update for Bitcoin
As we can see, Bitcoin respects our previous drawn trend line that is acting as resistance currently. Bitcoin is showing some signs of weakness, further strengthening the bear power or the selling pressure. Currently, Bitcoin seems indecisive, so this is the moment of truth for Bitcoin.
Explode to the upside or to the downside? That is the question...
As we can see, Bitcoin respects our previous drawn trend line that is acting as resistance currently. Bitcoin is showing some signs of weakness, further strengthening the bear power or the selling pressure. Currently, Bitcoin seems indecisive, so this is the moment of truth for Bitcoin.
Explode to the upside or to the downside? That is the question...
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Updated analysis here!
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We're starting to see a breakout, but considering that we are still under resistance, this might be a fakeout
