Summary: BTC in the past 8 hours has falling out of rising wedge as expected and is showing a reset before testing upper trend line. Below is my summary showing the various points that I see on BTC.
Note: This chart was created before the daily candle prints. We are looking for a higher low for the daily.
I will be breaking down the points I see as followed:
- BTC Was within the ascending triangle showing a triple top
- BTC fell through ascending triangle into low
- APEX of falling wedge is roughly 6350ish territory
- This coincides with 0.618 Fib retracement levels further confirming
- RSI is resetting at a lower point
- Higher lows
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Note: This chart was created before the daily candle prints. We are looking for a higher low for the daily.
I will be breaking down the points I see as followed:
- BTC Was within the ascending triangle showing a triple top
- BTC fell through ascending triangle into low
- APEX of falling wedge is roughly 6350ish territory
- This coincides with 0.618 Fib retracement levels further confirming
- RSI is resetting at a lower point
- Higher lows
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Comment:
Added EW to solidify the drop.
