BitcoinLong
Bitcoin, finding new bottom.
Classical charting method;
Falling wedge, a reversal formation highly visible on all time frames. Price has broken above the wedge on all exchanges.
RSI is finding support in the 37 range, and currently pointed upwards on the 1 Day chart.
Last falling wedge resulted in a 50% increase of 26 days. And it took the market 5 days to show momentum after the price broke above the wedge.
There could be one more re-test of the wedge, resulting in a massive bear trap for incoming volatility.
Long safely my friends.
Falling wedge, a reversal formation highly visible on all time frames. Price has broken above the wedge on all exchanges.
RSI is finding support in the 37 range, and currently pointed upwards on the 1 Day chart.
Last falling wedge resulted in a 50% increase of 26 days. And it took the market 5 days to show momentum after the price broke above the wedge.
There could be one more re-test of the wedge, resulting in a massive bear trap for incoming volatility.
Long safely my friends.
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.