BTCAUD 1H - Rising Wedge Pattern
Analysis:
BTCAUD has printed bearish divergence on RSI and is now printing rising wedge pattern. If the price breaks below 40522 (previous HL), it will be a sign of trend reversal. In this case we can enter in a short trade. For this trade the stop loss will be at 42779 which is the previous higher high level.
------ Trade ------
Type: Short
Entry: 40522
Stop Loss: 42779
Position: 0.0646
TP1: 38265
TP2: 36008
BTCAUD has printed bearish divergence on RSI and is now printing rising wedge pattern. If the price breaks below 40522 (previous HL), it will be a sign of trend reversal. In this case we can enter in a short trade. For this trade the stop loss will be at 42779 which is the previous higher high level.
------ Trade ------
Type: Short
Entry: 40522
Stop Loss: 42779
Position: 0.0646
TP1: 38265
TP2: 36008
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