So first we have Bitcoin in an ascending broadening wedge (white dotted lines, you'll see the lines acting as support and resistance) then we see bitcoin making a double top (blue dotted line acting as resistance) and with that we can see the possibility of an ascending triangle. Next we have the thin pink line acting as resistance, that is a critical point. A...
Watch the RSI to see if previous support will become resistance. Also watch the short term Macd trends, that will indicate if we will break out of the wedge or continue falling with it. Those are your two indicators that will help yo make smarter trades. Good luck traders.
So bitcoin currently riding on low volume, I see an ascending wedge after already making an ascending wedge inside a much bigger (potential) ascending wedge. I'm looking for a retrace to at least 6400. It is the weekend after all. Volume is usually pretty low during the weekend. I want to see bitcoin make it to the bottom of the much bigger ascending wedge forming...
Bitcoin has been going lower but indicators have been going up. Watch BTC price action for higher lows when you see that divergence and go from there. Market slowly moving up with weak volume but we made it to the top of the fib channel. I expect a retrace soon to our support line on the RSI. Then some more potential upside if volume comes in. Macd is looking...
Bitcoin is following this channel in between the blue and green lines. With the 4H golden cross around the corner I think we can see the possibility of starting a new rally to 8-9k after our most recent visit to our key support of 5800.
