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Bitcoin broke the 10k level with a slight confirmation in volume. We where in an ascending triangle and had a nice pattern (target is 10.2k).
But overall I think there is a high probability that Bitcoin is trading in this bigger rising wedge formation, which is bearish.
Bearish signals :
- Bearish divergence RSI
- Bearish Divergence MACD
- Volume is declining
I expect a blow off top, one last push upwards and run into some heavy resistance and through sell pressure see a bigger rejection which turns into a retracement.
For the video analysis check here : youtu.be/t6zV5-xY_eY
If you like this idea then please give it a thumbs up! Highly appreciated!!
Bitcoin broke the 10k level with a slight confirmation in volume. We where in an ascending triangle and had a nice pattern (target is 10.2k).
But overall I think there is a high probability that Bitcoin is trading in this bigger rising wedge formation, which is bearish.
Bearish signals :
- Bearish divergence RSI
- Bearish Divergence MACD
- Volume is declining
I expect a blow off top, one last push upwards and run into some heavy resistance and through sell pressure see a bigger rejection which turns into a retracement.
For the video analysis check here : youtu.be/t6zV5-xY_eY
Note
Video : youtube.com/watch?v=eq8XLJQxtWs
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.