Bitcoin is showing some bearish signs after break 10k level
Updated
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Bitcoin broke the 10k level with a slight confirmation in volume. We where in an ascending triangle and had a nice pattern (target is 10.2k).
But overall I think there is a high probability that Bitcoin is trading in this bigger rising wedge formation, which is bearish.
Bearish signals :
- Bearish divergence RSI
- Bearish Divergence MACD
- Volume is declining
I expect a blow off top, one last push upwards and run into some heavy resistance and through sell pressure see a bigger rejection which turns into a retracement.
For the video analysis check here : youtu.be/t6zV5-xY_eY
If you like this idea then please give it a thumbs up! Highly appreciated!!
Bitcoin broke the 10k level with a slight confirmation in volume. We where in an ascending triangle and had a nice pattern (target is 10.2k).
But overall I think there is a high probability that Bitcoin is trading in this bigger rising wedge formation, which is bearish.
Bearish signals :
- Bearish divergence RSI
- Bearish Divergence MACD
- Volume is declining
I expect a blow off top, one last push upwards and run into some heavy resistance and through sell pressure see a bigger rejection which turns into a retracement.
For the video analysis check here : youtu.be/t6zV5-xY_eY
Note
Video : youtube.com/watch?v=eq8XLJQxtWs
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