BTCUSDT ! Rising wedge on a bearish trend 🤯
Updated
BTCUSDT is trading in a LOCAL uptrend, but despite this, there are hints of a possible downtrend. Let's look into this:
*Remind that the global trend for bitcoin is bearish
We have an uptrending price channel and an important zone for price at 26740, the local liquidity zone. We pay attention to the uptrend, the uptrend channel and the MA trend lines. Resistance levels in an uptrend play the role of a magnet.
At the same time an interesting pattern is forming in the uptrend channel:
Rising wedge: bearish pattern. The volume of trades is decreasing, despite the growth of the price. Possible interpretation: sellers are preparing for a bearish break-down.
While the price is trading inside the wedge, do not look for entry points, only on the breakdown of the set-up. The short-term target for the long position is resistance 26740, for the short position the liquidity zone is 22423.
Regards, R.Linda!
*Remind that the global trend for bitcoin is bearish
We have an uptrending price channel and an important zone for price at 26740, the local liquidity zone. We pay attention to the uptrend, the uptrend channel and the MA trend lines. Resistance levels in an uptrend play the role of a magnet.
At the same time an interesting pattern is forming in the uptrend channel:
Rising wedge: bearish pattern. The volume of trades is decreasing, despite the growth of the price. Possible interpretation: sellers are preparing for a bearish break-down.
While the price is trading inside the wedge, do not look for entry points, only on the breakdown of the set-up. The short-term target for the long position is resistance 26740, for the short position the liquidity zone is 22423.
Regards, R.Linda!
Trade closed: target reached
Target 22423 Reached!+ 7% movement in our direction✅
With 10x leverage, you could earn +70%
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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