BITCOIN: IN NEED OF CORRECTION.
BTC update:
BTC has broken above the falling wedge pattern in a 1-day timeframe. Currently, it is facing resistance at 21.5k and according to analysis, BTC must retest to continue a healthy rally. The RSI is at the oversold area, indicating a correction to be coming soon.
Remember! There’s no need to panic if we see a rejection on BTC anytime soon. I expect a rejection close to 18k and then a strong rally breaking the 21.5k resistance.
Thank you for reading. Trade safely.
BTC has broken above the falling wedge pattern in a 1-day timeframe. Currently, it is facing resistance at 21.5k and according to analysis, BTC must retest to continue a healthy rally. The RSI is at the oversold area, indicating a correction to be coming soon.
Remember! There’s no need to panic if we see a rejection on BTC anytime soon. I expect a rejection close to 18k and then a strong rally breaking the 21.5k resistance.
Thank you for reading. Trade safely.
Related publications
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.