Strong rejection at resistance - revisitation of MA200?
Strong rejection every time we reach the resistance line (as drawn in the chart). I think it is likely that we revisit the MA200 at 8.4k. The market seems to be uncertain (could be related to Covid19).
Technicals seem more bearish:
- Volume is still lowering on average
- Bearish divergence (HH on RSI, but LH at price)
- Strong resistance lines coming down
Positioning: I closed my Long trades, but did not open a Short yet. I might consider it if we see continued downward pressure and a close below 9050 for BTC.
Let me know what you think!
Technicals seem more bearish:
- Volume is still lowering on average
- Bearish divergence (HH on RSI, but LH at price)
- Strong resistance lines coming down
Positioning: I closed my Long trades, but did not open a Short yet. I might consider it if we see continued downward pressure and a close below 9050 for BTC.
Let me know what you think!
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