At the moment while this idea is being released, Bitcoin seems to be getting rejected from the White Trendline, which has been previous Resistance pushing the price down when getting in-to contact with it trying a Break-Out.
However, last 24 hours have been an amazing Ride for Bitcoin and Altcoins, and Bitcoin is looking good so far in price action staying above 20EMA on the 1HR as support after a rally-cross 20EMA had with the 50EMA.
Is Bitcoin being hammered just in a short term as a means of correction from the last 24 hours and a Breakout will Occur with the White Trend Line?
Or will the White Trendline which is Strong Resistance will send Bitcoin down again, creating a Lower Low and continuation Bearish pattern until we test 20MA on the Daily ?
Share your opinion down below at the comment section on how things will play out from here, I'll be interested on others opinion ...
Interesting hours ahead for full confirmation, we'll keep you guys updated.
DISCLAIMER
NOTE that his is not Financial Advice!
Please do your own research before partaking on any trading acitvities based upon this idea
Trade Safe !