Long

Is Bitcoin pulling back or just treading water as we head into ?

Updated

This monthly chart suggests a pull back to within the Bollinger bands as momentum stalls at Fib levels 0.886 notorious for strong resistance and reversals. I expect support around 50 - 53k as fib levels 0.702 should be sufficient to guide us forward towards the halving.

X-Trend Weekly chart represents weekly trend resistance levels. Resistance currently offered by trend line B4 which tends to validate the monthly chart and this thesis.

As always nothing is certain. There always remains the possibility that we may just tread water.

Note

Forget it! There's no stopping this Bitcoin Beast.
I can live with that. lol

Note

What do you know? ...and we're back. The B4 trend line resistance was stronger than the momentum of the past week.

incurio

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