BTC resistance reached

by David

As I said in my last update, I wanted BTC to go for the 43k region test. As mentioned, it is a pretty strong one and a rejection was highly expected, especially today because we are going into the weekend.

Now, as volatility decreases during weekends, I would like BTC to establish a range below this resistance area , and next week go for the retest of the descending trendline, confirm it as support then move higher. PS : We have local support at around 42.4k, and need to break it for this scenario to play out

Target if we break 43k is still 47k

If we lose the trendline and hold below it, I expect BTC to go lower (34-35k)

Any questions?

Good luck traders Remember not to break your rules

Habib