BTC analysis for 04.30.2020 – Massive resistance trendline at the price of $9.150 on the test. Potential for the downside

BTC News:

Whalebot Alerts has reported that Tether issued more than 160 million new coins in the last 24 hours in just two transactions. The first $60 million were mintedwhen Bitcoin was valued at just over $8,000. A second transaction of $100 million USDT was issued just before BTC’s push past $8,500.

Technical analysis:

BTC has been trading upwardsThe price tested and rejected of the very strong resistance at the level of $9,150. My advice is to watch for the selling opportunities intraday due to rejetion of the strong resistance.

Trading recommendation:

Watch for potential selling opportunities using the intraday frames like 15/30 minutes. I found strong rejection of the main Supply resistance trendline in the background, which is good sign that buyers got exhausted.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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