Bitcoin Liquid IndexUpdated BTCUSD place your bets!
Large wedge structure developed on the daily
THREE is the magic number !!
3 instances of price testing the upper wedge structure
3 instances of price testing the lower support level at 9300
Some indicators to look out for:
- RSI is descending ever since the high on 25th June, with little sign of divergence
- MACD also exhibiting similar traits, currently showing signs of a MACD crossover to the bullish side
- Ichimoku signals bearish leading span. If BTC faces this rejection of the cloud, it is likely to maintain a prolonged bearish downtrend
It could be anyone's guess, but WATCH for volume and any divergence to suggest a break to the upside. Or if failure to the downside, the next major support level would be approx 7500, or the 200MA (in red).
THREE is the magic number !!
3 instances of price testing the upper wedge structure
3 instances of price testing the lower support level at 9300
Some indicators to look out for:
- RSI is descending ever since the high on 25th June, with little sign of divergence
- MACD also exhibiting similar traits, currently showing signs of a MACD crossover to the bullish side
- Ichimoku signals bearish leading span. If BTC faces this rejection of the cloud, it is likely to maintain a prolonged bearish downtrend
It could be anyone's guess, but WATCH for volume and any divergence to suggest a break to the upside. Or if failure to the downside, the next major support level would be approx 7500, or the 200MA (in red).
Note
we are indeed testing that base layer of support....... cringeeee...
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