BTCUSD is forming a rising wedge - a bearish pattern - on this 1D time frame.
While these patterns aren't gospel and are often invalidated, the sentiment around BTCUSD doesn't support a bull run right now given fork concerns.
In this chart, I outline the possible scenarios (a few of many) that may play out as this pattern completes.
While these patterns aren't gospel and are often invalidated, the sentiment around BTCUSD doesn't support a bull run right now given fork concerns.
In this chart, I outline the possible scenarios (a few of many) that may play out as this pattern completes.
Note
I obviously meant bear trap in the title, not bull trap.Apologies.
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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.