monkeyfondoodle

Rising wedge formation in overextended BTCUSD chart?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
With the RSI overextended at 76 and stochastic indicator topping out, I thought it prudent to be on the lookout for bearish formations that could lead to a reversal of the bull trend. Bullish exuberance is on a high and in a 14 month bear market that in itself is a contrarian indicator. There are several touch points in this steep rising wedge , the target $3300-$3400 if it plays out. Upside is still likely in the short term however.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out