AlbionTrader
Panjang

BTCUSD on a Support/Resistance level?

COINBASE:BTCUSD   Bitcoin / Dolar
COINBASE:BTCUSD             had a good drop in the last 3 days.

It now reached an area that can form a horizontal support; this would be the third touch so in case it holds we are going to see further move upwards.

As a soft resistance, we can also look at the diagonal trendline in figure - even if on the 10 December there was not a real touch.

Given the high volatility of the currency, augmented by several news in this week (and more to come by the end of the year), caution is advised.


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Original from my blog
Komen: Treandline still holding and now functioning as resistance
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