BitcoinShort
BTC Sell setup
BTC technicals lining up for a sell-off.
Struggling with long term downside resistance (yellow line) and forming a rising wedge pattern. Strong RSi diversion signalling weakness.
A close above 10400 would create a higher high above resistance and invalidate the downside setup.
News of recessions starting to air. US stock market could surprise us with a parabolic move back to ATH's, but it considering the state of the world economy it seems most likely to form a right shoulder or double top before starting a bear market.
Struggling with long term downside resistance (yellow line) and forming a rising wedge pattern. Strong RSi diversion signalling weakness.
A close above 10400 would create a higher high above resistance and invalidate the downside setup.
News of recessions starting to air. US stock market could surprise us with a parabolic move back to ATH's, but it considering the state of the world economy it seems most likely to form a right shoulder or double top before starting a bear market.
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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.