BTC is slowly moving down against US Dollar, technically it is under the box 19500-20500 inside a descending broadening wedge and under DO, RSI is neutral on 15 and 30 M and oversold on 1H so a bounce up to 19200 cannot be excluded, as well the forming wedge could break to the upside but to the downside as well especially on a bearish market with a bullish US Dollar, so what to do ? at the moment better wait than trade either becouse weekend is starting soon, if you want to choose between bearish and bullish side, for sure selling a bounce to resistance is the right side to be in until the trend change, so personally i will monitor the movement and probably will enter on the short side on bounce up always after confirmation and with tight stop as stop hunter on the weekend is a common practice.
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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.