Falling Wedge BTC 1hr
Falling Wedge BTC 1hr.
I closed my long from $8050 earlier after we rejected multiple times at $8318.
I plan on opening another in the same zone and will place a stop around $7850.
Falling wedge is a bullish pattern, I still expect us to test $8600-$8800.
MACD is still bearish though a crossover looks to be possibly in the works.
RSI is still high on some of the timeframes.
I also plan on making my trade of the 15 min chart when it dips below 30 on the RSI mark.
Historically, it's been a good reference for me.
I closed my long from $8050 earlier after we rejected multiple times at $8318.
I plan on opening another in the same zone and will place a stop around $7850.
Falling wedge is a bullish pattern, I still expect us to test $8600-$8800.
MACD is still bearish though a crossover looks to be possibly in the works.
RSI is still high on some of the timeframes.
I also plan on making my trade of the 15 min chart when it dips below 30 on the RSI mark.
Historically, it's been a good reference for me.
Note
Looks like the "falling wedge" is being invalidated as BTC has reached an equilibrium.
The 15m shows a tightening range. I'm expecting a push to the upside within the next few hours.
Note
Still waiting :/12pm - 1pm PST will see some movement. If not, then 5pm PST should show some signs of life.
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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.