I see hidden bear division on D1, and, a rising wedge. I understand some influencers have mentioned the rising wedge(bearish signal) could be a fake out, and that we could break the 6900-7000 resistance. However, taking cue from my previous experiences charting bitcoin, we've two indicators (both bear div & rising wedge) pointing a similar outcome, i.e. a drop; Ideally, a short from >6750 would be a good idea imo. As usual, appreciate your thoughts & comments.
Disclaimer: None of the content i share is a financial advise of any sorts, and is purely for educational and knowledge sharing purposes.
Disclaimer: None of the content i share is a financial advise of any sorts, and is purely for educational and knowledge sharing purposes.
Comment:
Not to mention the similar patterns are visible on H4 and other TFs. On H4, we can see regular bear div, implying the journey from 66-6800 could be a tight squeeze, or a sudden pump/dump squeezing both longs and shorts, while respecting the diagonal support and resistances of the rising wedge before dropping to sub 6500 levels.