#Bitcoin is currently moving within a falling wedge pattern on the daily timeframe and has just hit a very strong resistance area. This includes:
– The wedge’s resistance line
– The Ichimoku cloud
– A horizontal resistance zone (marked in the chart)
– Death cross pattern
To remain bullish, Bitcoin must break through this area with strong volume.
Otherwise, due to the formation of a death cross, we could see a bearish scenario where Bitcoin goes back to retest the support zone.
Honestly, I don’t like this death cross — unless BTC breaks resistance with serious volume, the bearish case is on the table.
– The wedge’s resistance line
– The Ichimoku cloud
– A horizontal resistance zone (marked in the chart)
– Death cross pattern
To remain bullish, Bitcoin must break through this area with strong volume.
Otherwise, due to the formation of a death cross, we could see a bearish scenario where Bitcoin goes back to retest the support zone.
Honestly, I don’t like this death cross — unless BTC breaks resistance with serious volume, the bearish case is on the table.
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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.