Bitcoin Technical Analysis: TESTING KEY RESISTANCE…AGAIN

Bitcoin broke up and out of the wedge it was consolidating in. It found resistance right inside the golden pocket (between the 0.618 and 0.65 fib) I’ve discussed in the past. While we’re seeing a small increase in volume, overall daily volume remains fairly weak.

Looking at the daily chart, price is bumping up against the upper Bollinger band. This, along with the golden pocket, is providing a strong area of resistance.
Bitcoin is now above the 50 Day MA on the daily chart. Let’s see if today’s candle can close above the 50 Day MA.

Longs have been stacking for the past

About the author: Workin 2005

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom