Rising wedge pattern on Bitcoin
Keep an eye out for a triggering sell event on Bitcoin through the temporary "floor" at $6,200.
Price has been steadily rising from the recent lows at $5,750 however this pattern is a BEARISH signal. We could see one more pump but be careful it, this could be a bull trap.
RSI trend line has broken to the downside with volume steadily decreasing. There is an inverse head and shoulders pattern at risk, that should keep the buyers interested.
I intend to accumulate into a sell position with stops above $6,400 which would also invalidate the rising wedge pattern.
A projected target for completion of this pattern is near $5,600.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Price has been steadily rising from the recent lows at $5,750 however this pattern is a BEARISH signal. We could see one more pump but be careful it, this could be a bull trap.
RSI trend line has broken to the downside with volume steadily decreasing. There is an inverse head and shoulders pattern at risk, that should keep the buyers interested.
I intend to accumulate into a sell position with stops above $6,400 which would also invalidate the rising wedge pattern.
A projected target for completion of this pattern is near $5,600.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
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Break triggered . Look to short the altcoinsCatatan
Another sell pattern forming.Catatan
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Wrong chart. This one:Catatan
Moving south as expected. The power of TA cannot be underestimated
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Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.