BTC is preparing the final move into the next trend. 4H close below 54K would set in motion a large weekend selloff as price dips below major trend support again. This would confirm a continuation of the downtrend to the .768 (42K) range since .618 has already been tested. But...bulls are pushing here. The fractal from the last rejection off this resistance trendline looked clear 8 hours ago, but its beginning to show signs of buying pressure. Closing above 55K would put us above a minor trend resistance, which would more than likely send us to test the major resistance at 57K.
Remember, nothing is clear and nothing is guaranteed. Whatever happens this weekend I'm sure we will see major opposite pressure come Monday as retail investors take a backseat to the big boys who call the shots.
Remember, nothing is clear and nothing is guaranteed. Whatever happens this weekend I'm sure we will see major opposite pressure come Monday as retail investors take a backseat to the big boys who call the shots.
