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
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.