BTC has formed into a rising wedge on an uptrend, a common trend reversal pattern. This pattern has also formed at the top of a trend channel while creating negative divergences on the stochastics, MACD, and RSI. These are all bearish indicators. Based off fib time zones of the previous bottoms, I am expecting BTC to correct within the next few days and fall to the bottom of the trend channel. I expect the correction to end on or around 11/13.
**As always, due your own research before entering a trade. Trades will not always work out as expected and this is why we use stop losses with a proper risk management strategy.**
If you are going to write negative comments, please move on. I have done my research and put together a thought out idea for everyone on here, please be respectful.
**As always, due your own research before entering a trade. Trades will not always work out as expected and this is why we use stop losses with a proper risk management strategy.**
If you are going to write negative comments, please move on. I have done my research and put together a thought out idea for everyone on here, please be respectful.