BitcoinLong
Maximum pain with an expanding ending diagonal
Bitcoin:
Hidden Bullish divergence on the 12H RSI, confluent with trendline support of a potential expanding diagonal triangle to complete wave 1 of a larger 5th/C at around 13k.
Expecting a SFP rejection from
13K and a short-term correction to follow with major support at 11.1k and confluence of major support between $10.2-10.3k where there is a strong weekly level and a 4H order block which I suspect will be tested. Should only be a wick to these levels with 10.5k holding on a higher TF close.
12H Hidden bullish divergence:
Hidden Bullish divergence on the 12H RSI, confluent with trendline support of a potential expanding diagonal triangle to complete wave 1 of a larger 5th/C at around 13k.
Expecting a SFP rejection from
13K and a short-term correction to follow with major support at 11.1k and confluence of major support between $10.2-10.3k where there is a strong weekly level and a 4H order block which I suspect will be tested. Should only be a wick to these levels with 10.5k holding on a higher TF close.12H Hidden bullish divergence:
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.