In 4h time-frame perspective, a new wedge pattern is formed. However there is an strong resistance btw $47500 and $50000. there are two upward and downward movement for BTC. I believe that the scenario (1) is more likely to happen than (2). the general form is similar to the Wyckoff pattern in phase D which reinforce down trend.
please leave me your comments below
please leave me your comments below
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based on the previouds analysis, BTC is inside the wedge. BTC hit the important resistance at $50500 and rejected. by this rejection, it may reach the bottom of the wedge.
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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.