Bitcoin to bounce as PAXGBTC meets resistance
The PAXGBTC serves as an excellent inverse correlation for BTCUSD.
PAXGBTC has formed an M pattern and is now coming back up to test the previous support line, which most likely will act as resistance pushing PAXGBTC down further. This is usually a sign that BTCUSD will rise.
This is a most likely a short term move and will bring BTCUSD back to the top of it's current Bull flag formation, then we will watch to see if it breaks bullish or not.
This will be nullified if PAXGBTC can find support above the line of course.
PAXGBTC has formed an M pattern and is now coming back up to test the previous support line, which most likely will act as resistance pushing PAXGBTC down further. This is usually a sign that BTCUSD will rise.
This is a most likely a short term move and will bring BTCUSD back to the top of it's current Bull flag formation, then we will watch to see if it breaks bullish or not.
This will be nullified if PAXGBTC can find support above the line of course.
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