BTC still in downtrend, but since couple days we can see forming falling wedge. In theory it’s bullish formation, but in downtrend it’s statistic accuracy might be little bit worse than usually. On the other hand in D1 interval currently we are on horizontal support approx $8350 and its worth to add that last 2 candles were NOT bearish candles. Very similar wicks from both sides and small body is called „indecision candle”. In downtrend it can means that no-one wants to sell Bitcoin further trend can revers for bullish.
Changing trend might occur only when Bitcoin will close candle over $9600, but we have long road there.
Changing trend might occur only when Bitcoin will close candle over $9600, but we have long road there.
Note
Bitcoin breakdown falling wedge. Two Dojis on D1 timeframe were too weak to mobilize demand. For now in D1 there is wide zone where something can happen. U can see that zone marked in chart between 8976-7751.
Sentiment is still bearish. That’s for sure
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.
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.