Bitcoin appears to be forming a falling wedge pattern..
On the KST it's clearly oversold and there's been a noticeable bullish cross where I've placed the blue downward pointing finger.
Notice the RSI is continuously getting rejected at the blue sloping resistance of a rather Macro descending triangle, there have been multiple deviations but for the most part, the RSI has stayed inside of the pattern.
I have drawn a possible green hypothetical price action scenario in the near term, if the dark blue line at $27,550ish USD than we may form an H&S pattern and eventually confirm a blow-off top.
Only time will tell, it's hard to find a bearish talking point for Bitcoin in this economic envoirment.
On the KST it's clearly oversold and there's been a noticeable bullish cross where I've placed the blue downward pointing finger.
Notice the RSI is continuously getting rejected at the blue sloping resistance of a rather Macro descending triangle, there have been multiple deviations but for the most part, the RSI has stayed inside of the pattern.
I have drawn a possible green hypothetical price action scenario in the near term, if the dark blue line at $27,550ish USD than we may form an H&S pattern and eventually confirm a blow-off top.
Only time will tell, it's hard to find a bearish talking point for Bitcoin in this economic envoirment.
Comment:
Maybe another bullish flag or descending triangle?
Comment:
The same chart btw, moderately different narrative but still generally bullish..
