Now BTC is moving inside a falling wedge and has found support around 0.5 fib retracement. And we can see some bullish divergence start showing up on RSI. I think we may see upward movements soon today or tomorrow, assuming no very bad news coming out. It is still possible that it may fall to 8200 and test it again today. Personally I would start buying around and below 8300. You can trade at your own risk.
Note
So it breaks out. Now I will consider buying when it retraces a little bit.Note
If it doesn't break the previous low 8271, it will be bullish in short-term. If it does break it, then it will most likely re-test 8k.Note
I think this time is different. The whales are leaving. The first target is 7k6-7k8. Sell right after the bounce if there is any. The next target could be 7k or below.Note
They will likely pump it to the neckline of the double top - around 8300 and then drop it. Don't chase the pump if you didn't buy before the pump.We don't trade patterns. We draw them.
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We don't trade patterns. We draw them.
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.