Bitcoin short through DGD
Updated
Bitcoin is right now continuing in the formation of rising wedge, which shows weakness when we look at the volume, that doesn't match to the how much price has risen in the recent days. Stoch RSI is on the day perspective still in the falling phase, though on the 4 hour frame bitcoin is still rising a little bit. From the set up I would guess that bitcoin will form something close to the double bottom at around 7000, and while doing that DGD, which was historically tied to the bitcoin in the reverse way, will climbe. It seems like dgd is soon to break out of the falling wedge that has been forming on the chart for 2 months. Targets for the dgd falling wedge would be 0.039692, then 0.046, and lastly and hopefully 0.057.
Good luck, and keep it safe guys it's just an idea.
Good luck, and keep it safe guys it's just an idea.
Note
So far first support level was accurate. Most likely see you around 7770 then.
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