BTC 3D Chart - Bearish Prospective [UPDATE 01] - FW
* Possible Falling Wedge (FW) price fractal in play for BTC (both in price action and aligned with RSI). Set-up would require price to go lower from here but is a common setup for market reversals.
* FW moves would take us down to Daily OB (Order Block) support (Blue rectangles) and retest the 200W SMA.
* Any pump from current levels, watch for the 200D SMA for possible rejection.
One possible path BTC could take (not financial advice, charts developed for educational purposes only).
* FW moves would take us down to Daily OB (Order Block) support (Blue rectangles) and retest the 200W SMA.
* Any pump from current levels, watch for the 200D SMA for possible rejection.
One possible path BTC could take (not financial advice, charts developed for educational purposes only).
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.