Bitcoin has reached a new ATH and has found resistance at the $4750 level. As you can see on the chart this price is also near an important Fibonacci extension level.
It is about to test the $4750 level again as I type this. If it fails to break resistance a short term pullback is likely. The MACD lines are crossing, confirming a possible short term downtrend. The MACD indicator also shows signs of bearish divergence.
Conclusion: Bitcoin is likely to go down, especially if it fails to break resistance.
It is about to test the $4750 level again as I type this. If it fails to break resistance a short term pullback is likely. The MACD lines are crossing, confirming a possible short term downtrend. The MACD indicator also shows signs of bearish divergence.
Conclusion: Bitcoin is likely to go down, especially if it fails to break resistance.
Conclusion: We might have reached a very strong resistance level now. I am still bearish, especially when it comes to the short term picture.