Bitcoin is currently in a falling wedge
There are multiple points of support that indicate bitcoin is in a large falling wedge. The current price is being suppressed by the 50 day moving average and it is likely that the price of bitcoin will fall to $5600 by the end of the week. If the price closes below the ~$5600 range we could be in some serious trouble.
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.