#BTC is currently trading around $77.8K and has reached a major resistance zone that also lines up with the long-term descending trendline.
This is a very strong resistance area and won't be easy to break. On top of that, the RSI is already in the overbought zone, suggesting that buying momentum may be getting exhausted.
For now, I'd rather wait for confirmation than chase the move. A strong daily close above this resistance would be needed to confirm a bullish breakout.
Until then, this looks like an interesting area to watch for possible short opportunities, especially if price shows signs of rejection.
That's just my view based on the current chart.
What's your opinion? Do you think BTC breaks this resistance, or are we about to see a pullback? Let me know in the comments.
#bitcoin
This is a very strong resistance area and won't be easy to break. On top of that, the RSI is already in the overbought zone, suggesting that buying momentum may be getting exhausted.
For now, I'd rather wait for confirmation than chase the move. A strong daily close above this resistance would be needed to confirm a bullish breakout.
Until then, this looks like an interesting area to watch for possible short opportunities, especially if price shows signs of rejection.
That's just my view based on the current chart.
What's your opinion? Do you think BTC breaks this resistance, or are we about to see a pullback? Let me know in the comments.
#bitcoin
