Bitcoin is currently in a rising wedge. Looking to close longs/short between 12500-13000 followed by another elliot wave cycle down to about 8.8-9.2k. A break above 13k could signal a break of the overall bearish trend and should be accompanied by an increase in volume for confirmation before buying.
Trade active
Note
MACD crossing on the H1. First target 10,600, will likely dump lower
Note
Bullish divergence forming here. May need to wait for more volume before the downtrend can continue
Trade closed manually
Looks like we may have another leg up in the wedge. Divergence forming on lower timeframes
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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.