My previous BTC/USD signal on 1st May was not triggered.
completed by the second rejection of the resistance level at $30,030 and the decisive breakdown below the new resistance level at $28,740. However, I also thought that there would be support as nearby as the $28k area.
The short-term trend is clearly bullish, but it is unclear how much longer that will continue. The longer-term trend is certainly bearish., as we can see it acted last week as strong support before it finally broke down. If the current embryonic bearish rejection of $27,316 continues, and we see a strong lower close on the hourly chart as the London session gets underway with the level holding cleanly, that could be a good short tradeThe resistance at $27,316 is likely to be today’s pivotal point – if the price can get established above it with two consecutive higher hourly closes following the London open, the price could rise as high as the area of resistance at $28k today.
Concerning the US Dollar, there will be a release of Empire State Manufacturing Index data at 1:30pm London time.
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