image source: Portalbitcoin
The price of Bitcoin failed in its last two attempts to surpass the level of $ 4650, creating a double top.
The price still has to test the support of $ 4500 and if it breaks, can confirm a fall in the sequence.
Technical indicators are showing mixed signals at the moment.
Technical indicators
The moving average of 100 periods is below the 200, showing that the path of least resistance is down. The price is being traded above the dynamic inflection point of the 200-period average, however, indicating that there is still some upward pressure on the game.
The stochastic is also going up, signaling an optimistic moment. That could be enough to push the price of bitcoin beyond the tops at $ 4650 and in search of new tops, above $ 5000. RSI, on the other hand, seems to be moving downward, showing that the selling pressure is still in Game.
image source: Portalbitcoin
Source: portalbitcoin
Thank you for the analysis @nunojesus.
I am lookng for an entry point on a long term hodl.
It seems that up might occur before down.
Thank you
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Great little TA...going to follow and upvote