InvestingScope

Rejection on the Resistance. Still short.

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BITFINEX:BTCUSD   Bitcoin
The price is back again near the 6,000 level after being rejected yesterday on two strong bearish 1H candles (Engulfing, Three Outside Down on Highs/Lows = -33.0071, B/BP = -85.7219). 4H remains within a Triangle pattern (STOCH = 45.730, Williams = -46.245) which breaks id 5,928.28 is crossed. 1D remains a standard Channel Down (RSI = 33.875, MACD = -370.000) which steadily looks for a Lower Low (Highs/Lows = -182.5658). TP = 5,617.4 (1W MA100) intact. See how a new Channel Down has emerged, which primarily rejected any upside attempts on 6,340.50 and 6,261.10.

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