4.24 Bitcoin's positive trend is interrupted! Encountering key resistance? Can it break through?
Today, let's first look at Bitcoin's daily line. Before the daily line, I thought the price was moving in a box. The price fell in the first two weeks and fell to the bottom of the daily line box. Later, it did not fall through, but began to rebound. The daily line can see that there have been 5 consecutive positive K lines. This is a very good trend, but in the morning today, yesterday's daily line closed with a negative line, a small K line, not a big negative line.
But we must pay attention that the market has come to a key node now. From the perspective of four hours, the market has fluctuated upward in the past few days and reached the resistance position of the key previous high point. The current resistance is still very obvious in four hours. The price closed a small negative line on the daily line at this position, which is likely to be a signal that the price will pause here, and even the price may turn back at this position.
In other words, the price may still fall. If this position continues to be blocked, how can we judge it?
From the perspective of trading volume, the price fluctuated upward in the past few days, but we can see that the trading volume is not much below, which means that the follow-up force is not strong. From this perspective, the current market situation may fall in the future because there is no volume follow-up.
Then in one hour, the price now has a converging triangle trend at the top, and it is estimated that it is almost over. There may be a result today. If the volume breaks through this position, then the rise should appear.
But I currently think that the market will not appear so soon. If it is to rise, the price should fluctuate at a high level. If there is a bearish signal, it will not fall. The final breakthrough is the beginning of the rise.
