BTC forming a rising wedge!
Updated
Taking a glance at BTC's hourly chart, it becomes apparent that the price has been forming a rising wedge pattern, which is commonly considered a bearish signal. Furthermore, the price has exhibited weakness through multiple bearish divergences across various timeframes. As a result, it would be prudent to monitor this rising wedge for a potential breakout. In the event of an upward breakout, it would be wise to observe the 32k level, as it represents a crucial resistance point. Conversely, a downward breakout could cause the price to fill the Fair value gaps displayed in the chart.
It is crucial to note that there is an unfilled CME gap located at 35.7k. It is plausible that the price may close this gap before reverting to a downtrend.
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It is crucial to note that there is an unfilled CME gap located at 35.7k. It is plausible that the price may close this gap before reverting to a downtrend.
-------------------------------------------
About our trades:
Our success rate is notably high, with nine out of ten of our posted trade setups achieving at least their first target upon a breakout price breach. Our TradingView page serves as a testament to this claim, and we invite you to verify our results firsthand.
-------------------------------------------
Recent Altcoin trades:
ARB / USDT: 17% profit
MATIC / USDT: 4% profit (Still going)
DOGE / USDT: 20% profit
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Note
Broke down! Note
Fair Value Gap filled!
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