This 1h chart shows the recent BTCUSD price actions.
It seems like it's forming a Falling Wegde, which is considered as a reversal pattern.
for the short term, we are still heading to 3k. If this Falling Wedge will be confirmed, we could have a mid-term reversal soon.
Requirements for a reversal:
- high volume
- significant increasing price
- break out of the Falling Wedge
Bearish or Bullish?
- short term still bearish
- mid-long term bullish (depends on future price actions)
Regards
It seems like it's forming a Falling Wegde, which is considered as a reversal pattern.
for the short term, we are still heading to 3k. If this Falling Wedge will be confirmed, we could have a mid-term reversal soon.
Requirements for a reversal:
- high volume
- significant increasing price
- break out of the Falling Wedge
Bearish or Bullish?
- short term still bearish
- mid-long term bullish (depends on future price actions)
Regards
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.
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.