Get started
fullofsoul3

BTC giving bearish signals

Bitcoin (COINBASE:BTCUSD)  
fullofsoul3 Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Wedge BTCUSD btcusdshort Bearish Patterns Cryptocurrency cryptotrading crypto cryptopattern
8
0
trendanalysis chartpattern wedgepattern btcusd btcusdshort bearish cryptocurrency cryptotrading crypto cryptopattern
1. Forming a rising wedge - if it occurs in a downtrend then it acts as a continuation pattern and in an uptrend its a reversal pattern.
2. Bearish divergence on RSI and MACD

Waiting for the confirmation if it breaks below the rising wedge, target of a dip is shown in the chart.
Comment:
So far, BTC is bearish, it got rejected from wedge's lower line.
There is a strong support at 53164, price could also bounce back from it. If it breaks below this level, then for sure BTC will meet the target mentioned in the chart
Comment:
That is amazing, it exactly reached the bearish target after breaking the wedge!

Related Ideas

fullofsoul3
BTC next big move is coming!
fullofsoul3
ETH is going to 4700?
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.