BTC falling wedge? Cautiously bullish
BTC has been dropping like a rock for the past couple of days. Small areas of consolidation have resulted in a the formation of a falling wedge pattern. These patterns tend to break upwards and create trend reversals. If this falling wedge does fail, we are likely to visit the 53k mark due to macro-economic reasons, opex, overleveraged longs and other fud. Up to the 4H timeframes, the chart shows RSI and MACD divergences, indicating a bounce is imminent.
NFA.
NFA.
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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.