to send BTC to retest the 4200 resistance. The situation is still fragile for Bitcoin: The big picture, in my opinion, is that we are in the lower part of the trading range. From above, the next resistance lies at the support turned resistance area. This will be the fourth time Bitcoin will be facing the critical level.
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From above, Bitcoin has to break up the descending trend-line of the mentioned bearish triangle (on the 4-hour chart). However, to the pessimistic surprise, BTC broke up the triangle formation. BitFinex open short positions: The short positions have decreased.2K BTC open positions. Emphases are placed on teaching readers to both model and analyze a structure. The daily charts RSI level: It can be clearly seen that Bitcoin broke down the significant RSI support including the 56 levels along with the ascending trend-line. About the Author :.C. This resistance was tested recently, just three days ago, and over the recent hours, BTC is consolidating around that level.
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