Bitcoin consolidating in a wedge pattern.
Bitcoin on the daily time frame has been consolidating in a range and is taking support around its 20 DMA.
On the weekly analysis, the moving averages are getting close enough but the price is below both 20 and 200 ema.
The coin price is around its hourly 20 ema and its taking a support from it.
The coin is forming a rising wedge pattern on daily time frame.
Once the pattern gives a break out, bitcoin can give nice targets on both side.
Watch for the price action before trading the setup.
Support and resistance levels are mentioned in the chart itself.
On the weekly analysis, the moving averages are getting close enough but the price is below both 20 and 200 ema.
The coin price is around its hourly 20 ema and its taking a support from it.
The coin is forming a rising wedge pattern on daily time frame.
Once the pattern gives a break out, bitcoin can give nice targets on both side.
Watch for the price action before trading the setup.
Support and resistance levels are mentioned in the chart itself.
Related publications
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.