BitcoinShort
Bitcoin Bearish - Rising Wedge + Daily Death Cross + Overbought
Likely heading down.
1) Bitcoin is printing a textbook rising wedge
2) Death cross on the daily
3) Overbought RSI
4) Massive weekly resistance level
5) 50 MA daily put pressure down to complete wedge
6) Confluence on 4 HR resistance trend line from the sell off at 10k levels
7) Drop in volume which confirms the pattern and breakout is imminent to either side but with bearish bias
1) Bitcoin is printing a textbook rising wedge
2) Death cross on the daily
3) Overbought RSI
4) Massive weekly resistance level
5) 50 MA daily put pressure down to complete wedge
6) Confluence on 4 HR resistance trend line from the sell off at 10k levels
7) Drop in volume which confirms the pattern and breakout is imminent to either side but with bearish bias
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.