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

Trading 30 avr 2020 Donner votre avis

BTC News:

analytics5eaab656a62bd.jpg

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

Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /var/www/forex-winner.com/htdocs/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1039