BitcoinUpdated $BTC/USD Bullish Descending Wedge. Pain Before The Gain?
If it keeps to the trend, it will drop further down the wedge over the next 7 days, potentially breaching, $6000. Watching for a unified historical Bollinger Band break (highlighted in blue rectangles) and RSI oversold signal for a potential BO event in the coming months. GLTA
Note
However, if no BO event happens, she will continue to slide towards $2800.Note
BB slip occurred prior to movement, a good indicator of an upward swing that was missed. Might add MMAR to the mix to have a better view of reversal patterns. Now has to stay out of the purple wedge to confirm a BO event or she will follow bear trend.
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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.