Why i dont turn Bullish yet --> Eliott Wave, RSI, Volume
What caused recent price movements?
Corona Virus - as people calm down, price will calm down
Iran war - if they can find some politican solution, price will correct down
Why i dont turend bullish yet?
As you see we have a giant bearish rising wedge. BTC seems to be out in thin air.
RSI is high. the upper resistance in RSI is flat, while price is spiking higher.
At the same time volume is decreasing. Seems like Bears waiting to chash out on a higher level.
- bearish rising wedge, prise spikes went weaker
- rsi is flat and in high areas, stays flat as pricve spiking
- volume decreasing while price spikes
as always DYOR, its just my opinion
Corona Virus - as people calm down, price will calm down
Iran war - if they can find some politican solution, price will correct down
Why i dont turend bullish yet?
As you see we have a giant bearish rising wedge. BTC seems to be out in thin air.
RSI is high. the upper resistance in RSI is flat, while price is spiking higher.
At the same time volume is decreasing. Seems like Bears waiting to chash out on a higher level.
- bearish rising wedge, prise spikes went weaker
- rsi is flat and in high areas, stays flat as pricve spiking
- volume decreasing while price spikes
as always DYOR, its just my opinion
Trade active
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pretty niceTrade closed: target reached
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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.