Short

BTC Update

Updated

Looks like a rising wedge (bearish), shown here on the hourly chart. I believe it will either begin breaking down through the lower trend line. Another bearish scenario is a touch to the lower trend line, then back to the top (which by that time will coincide with the 200MA which will act as a ceiling and lead to a break of structure).

Note

Here's the outlook on a 4 hour chart. Best case scenario, in my opinion, would be to find the 4hour ichimoku as resistance before topping over.

thekevin

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