We are seeing falling wedge pattern.
At this moment BTC is in bearish scenario (doing lower low + lower high).
To turn bullish in short term, we need 2 things:
1) Break up the falling wedge, with explosive buy pressure;
2) Break RSI above 55 level.
It's a risky time to do any trade.
We need to see the next moves.
At this moment BTC is in bearish scenario (doing lower low + lower high).
To turn bullish in short term, we need 2 things:
1) Break up the falling wedge, with explosive buy pressure;
2) Break RSI above 55 level.
It's a risky time to do any trade.
We need to see the next moves.
Note
Bitcoin broke the falling wedge!
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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.