BTC - Bearish Rising Wedge in a Downtrend
Bitcoin has been exhibiting an attempt to halt a recent decline and has now retraced the most recent breakdown which commenced on Aug 05.
It is hitting a zone where relatively high transactioning occurred at the start of July.
The Rising Wedge is traditionally a Bearish pattern but Bitcoin doesn't necessarily respect tradition.
Await confirmation of a break before entering and prepare for the possibility of fake breakouts.
It is hitting a zone where relatively high transactioning occurred at the start of July.
The Rising Wedge is traditionally a Bearish pattern but Bitcoin doesn't necessarily respect tradition.
Await confirmation of a break before entering and prepare for the possibility of fake breakouts.
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.