BitcoinLong
Bitcoin - Descending Wedge
Updated
Just an idea to put out there to watch. Possible bullish daily descending wedge. Could breakout from this area or one more pull back one more time.
Breaking out and trading over the 1 and 2 candle would be a very good sign. REI looks to be saying we bottomed for now.
There will be strong resistance above to watch when we breakout. I'm about 50/50 on if the bottom is in.
Breaking out and trading over the 1 and 2 candle would be a very good sign. REI looks to be saying we bottomed for now.
There will be strong resistance above to watch when we breakout. I'm about 50/50 on if the bottom is in.
Note
I'm now watching the $42.5 area. There is a good bit of resistance there. 200 day SMA
4 hour sell zone top. Currently on an 8 of 9 count and hung up on the TD risk line.
21 Week EMA. Don't mind the blue lines, yet... That my more bearish outlooks and may be something I publish later.
All of the above are in the 42.5K area, and it looks like we are on course to hit on a 4 hour TD9 Sell, assuming we break the risk line.
On the weekly, I do like RSI broke above trend and NVT has a bottom look to it.
Pulling into the death cross of the 7 and 30 week SMA. If we break above, I'll be interested in the 18 WMA, red.
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