BTC Daily: Bearish divergence - Ichimoku - Rising wedge
BTC Daily
Let's keep the chart and analysis as simple as possible.
The daily shows a bearish divergence between RSI and price. It could mean that bears are ready to take control again.
The rising wedge also signals a reversal pattern to the downside.
So where does it go from here?
As a first target we could see a retest of the Kijun line on the daily.
Further analysis including moving averages and fibonacci levels can be done separately for further indications on price targets. (Coming soon)
Trade safe.
Let's keep the chart and analysis as simple as possible.
The daily shows a bearish divergence between RSI and price. It could mean that bears are ready to take control again.
The rising wedge also signals a reversal pattern to the downside.
So where does it go from here?
As a first target we could see a retest of the Kijun line on the daily.
Further analysis including moving averages and fibonacci levels can be done separately for further indications on price targets. (Coming soon)
Trade safe.
Trade closed: target reached
1st target reached on BTCUSD as the Kijun line acted as a support.We shall see in the coming hours/days if the Kijun holds or whether we go further down.
Next support: 16200
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