BTCUSD is inside a Rising Wedge.
Currently the price is near the 200 MA in H6 chart, this may definitely resist Bitcoin and push back the price. Also Bitcoin moved up to 61.80% fib retracement. So niw this is the most important level for bitcoin to watch now.
If bitcoin breaks the lower trendline it will confirm the break of rising wedge and bearish reversal of Bitcoin
Stay Tuned, 👍
Currently the price is near the 200 MA in H6 chart, this may definitely resist Bitcoin and push back the price. Also Bitcoin moved up to 61.80% fib retracement. So niw this is the most important level for bitcoin to watch now.
If bitcoin breaks the lower trendline it will confirm the break of rising wedge and bearish reversal of Bitcoin
Stay Tuned, 👍
Note
The Breakout below the lower trendline of the wedge is not strength enough; Monitor Small Timeframe like 1 Hour!Note
Went 10% Down since publish of this Analysis!Note
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.