Bitcoin - I'm following the trend and staying cautious för BITFINEX:BTCUSD av jpbrown1023

trendanalysis chartpattern indicator btcusd btcusdt

I'm seeing a lot of bullish sentiment on TV, however, there are some things that concern me which I believe are worth pointing out. Looking at the daily chart, you can see that BTC fell through support of the falling wedge it was in and that support is now acting as resistance. There is an inverse head and shoulders pattern, but it is leaning. I also see resistance on the MACD and at the zero line. I think that failure to break this could result in testing the $3000 level or worse. Keep your eyes peeled. I am in fiat until I get confirmation of the direction we are heading. If this gets rejected by resistance, it could fall fast!

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