Bitcoin: Heading to test the major Gann 2/1 resistance

28 Mar 2018

Following my last post & keeping the short position (TP-7500) on, I am also looking forward to a breakout of Gann 2/1 resistance. Technically, 4H STOCHRSI is going up & entering overbought conditions. However, the MACD signal is getting positive. Overall, bearish pressure is high. Only a fresh meat can break the resistance significantly up to 8400 so that we aim at 9k and 10 region.

29 Mar 2018

Not

Last short TP-7500 hit. BTC tested Gann 2/1 resistance & it holds to avoid any upward movement. BTC is not testing the Fib 23% level and Mar 19 bottom i.e. 7240. If BTC holds this, I trust it will be positive news for bulls. For the time being, it appears as bears are holding this tight & targeting 6k.