BITCOIN: Will it Get Rejected Again?
2024-10-15

Hello, traders!

BTC is once again showing signs of rejection, so be prepared. In the past, we saw a similar situation where BTC was rejected from the same resistance trendline.

The RSI is in the overbought zone, indicating a potential loss of momentum. At this point, we need to be cautious with our leveraged long positions. If rejection occurs, we can expect the price to drop to around $62k, where the 100 EMA serves as support.

For a continued bullish move, BTC must break above the resistance trendline, which could lead BTC towards $69k or $70k.

Key points to watch:

~ Resistance trendline: Rejection is likely.
~ Support level: A rejection could bring BTC down to the $62k support (100 EMA).
~ Bullish continuation: A breakout above the resistance trendline.

Make sure to do your own analysis and research before making any decisions.