Bitcoin: You are Going to Jump, but to your death or to a temporary Happiness.
Bitcoin failed to break the $6600 resistance twice over the past two days. During the same period of time, it had 6 troubled attempts to break the $6400 and 4 attempts to break $6500.
This explains one thing to the Nouvive team, despite the market wanting to break above $6600, theres not enough momentum and volume to cause Bitcoin to go above this.
Instead, we will see Bitcoin to try one more time to bounce off the trend line at $6,300 to try for the $6583 –
It will fail to break this, before re-testing the $6150 where there is a volume gap and potentially seeing the $6071 line – A Famed resistance of Bitcoin.
Moreover, on the higher time frames, there is a lot of sells. This with the negative market sentiment to do with the ETF deadline this Wednesday causes Nouvive to recommend a SELL.
Nouvive awards a SELL FOR BITCOIN. This means you can short.
If You want to short: Enter a position at just below $6430 with a take profit at below $6150. Increasing Stop Losses as when in Profit.
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