Will we get rejected at this Level?
This legacy trend line acted as resistance during the beginning of the 2020 Bullrun as circled in red.
During the May 2021 crash, Bitcoin bounced off of it twice and continued to the upside.
Last week's dump had us break below it. Right now we are forming an ascending wedge that is struggling to break above the trend line.
So the question is, will we break above it to test the current top resistance of the massive falling wedge that has been forming since ATHs, or will this be our point of rejection?
I'd like to hear your thoughts and insights as to how this could play out.
During the May 2021 crash, Bitcoin bounced off of it twice and continued to the upside.
Last week's dump had us break below it. Right now we are forming an ascending wedge that is struggling to break above the trend line.
So the question is, will we break above it to test the current top resistance of the massive falling wedge that has been forming since ATHs, or will this be our point of rejection?
I'd like to hear your thoughts and insights as to how this could play out.
Penafian
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