Bitcoin bearish signals (1hr)
Bitcoin forming a rising wedge pattern (bearish reversal).
Indicators (cRSI, Stochastic RSI, MACD) show a bearish divergence (reversal).
I expect a drop to the support zone at 3500-3400.
If this zone does not survive, then the fall can be up to 3200 and even up to 3000 (a little doubtful).
Stop-loss can be put on a level above the main downtrend line and 38.2% Fibonacci ~ 4250.
Good Luck!
Indicators (cRSI, Stochastic RSI, MACD) show a bearish divergence (reversal).
I expect a drop to the support zone at 3500-3400.
If this zone does not survive, then the fall can be up to 3200 and even up to 3000 (a little doubtful).
Stop-loss can be put on a level above the main downtrend line and 38.2% Fibonacci ~ 4250.
Good Luck!
Note
The pattern confirmed.
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Related publications
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.