BTC might break a rising wedge, bearish
Theres no way around it other then thats a big red candle. Although btc/xbt has been in a nice uptrend, if it breaks that rising wedge its going to be bad. I dont want to speculate on price too much since in crypto anything can happen but there is going to be a psychological level at 4000 to break, a fib resistance for both the short term and long term trend at 3750 as a strong support. MACD has also turned so that a selling signal as well.
In times like these when btc goes bad, its not a bad idea to short the move, or buy into alts once btc reaches the bottom.
In times like these when btc goes bad, its not a bad idea to short the move, or buy into alts once btc reaches the bottom.
Note
Colored fib is short term trend, red lines are from longer term fib trend
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.