Bitcoin is close to a decision point!
Updated
Hello everyone,
Bitcoin has seen a fantastic rally over the last months. We've managed to reach all the way to the all-time highs.
There hasn't been any serious pullback yet.
I've found a bearish divergence on the daily timeframe in the RSi and a rising wedge pattern.
The target of the rising wedge is calculated by the height of the wedge, so around 16200.
If the rising wedge is to complete, we will see one more pump towards 20k and then a real pullback will start.
However, that being said, if bitcoin manages to clearly pump above 20200 and actually closes there, I think much higher prices are in play.
Thanks for reading my analysis,
Goodluck!
Bitcoin has seen a fantastic rally over the last months. We've managed to reach all the way to the all-time highs.
There hasn't been any serious pullback yet.
I've found a bearish divergence on the daily timeframe in the RSi and a rising wedge pattern.
The target of the rising wedge is calculated by the height of the wedge, so around 16200.
If the rising wedge is to complete, we will see one more pump towards 20k and then a real pullback will start.
However, that being said, if bitcoin manages to clearly pump above 20200 and actually closes there, I think much higher prices are in play.
Thanks for reading my analysis,
Goodluck!
Note
Rsi Divergence on the daily chart
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