Short Term Update: BTC/USD turns down from Resistance

chartBitcoin turns down from the expected resistance level of the previous update. This occurs after price action rose dramatically (around $400  in total) in a substantial bullish correction extending back to the Dec 7 low just above $500. Next downside support target resides around the key $810 price region near the volume average, which is an important support/resistance as explained many times. To the upside, in the event of a breakout above first deviation line, the next upside target to watch resides around the price region of the previous double top ($1150).

Again, a combination of price and time indications has given a nice selling opportunity at $960(rsi sell short signal and first deviation line resistance).

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5 thoughts on “Short Term Update: BTC/USD turns down from Resistance

  1. Nice enky. Caught a nice pot at 811 today because of your post. I see the attempt to break the 2 day vwap at 920 $ failed. Suppose it will make another run and push to 960 $ ?

    1. Enky

      The vwap worked, so the “crash party” is postponed:)
      yes 920 it’s an intermediate level for my vwap, i’ve to wait more to understand what it could do, for now nice trade bud

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