BTC - Up or Down? : Real or Fake Out?
As we can see BTC is ran into resistance on its bounce from the lows yesterday around 6224. We are currently sitting at on the chart by the VWMA that is in bed with the 38 fib resistance level. The market is trading pretty tight at the moment trying to chose a direction. If we can break up look for 6500's as the next area to decide if this is a real move or just another bounce that will be heavily shorted. For now it looks like we have run out of steam and may look to test lower towards 6100. Lets wait and see what happens.
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