Previous vs. Current Situation:
We expected the price to continue falling, but market sentiment shifted due to the 180-day trade tariff pause news, triggering a bullish wave instead.
Bitcoin is now in a short-term bullish wave, but still trapped in the descending wedge (bearish pattern) with RSI divergence.
Key Scenarios to Watch:
Trigger: Rejection from wedge support line + new lower low with RSI divergence => enter long after getting confirmation in lower timeframes.
Continuing the upward trend => breakout and close above the blue resistance zone.
(Will update analysis for new long setups)
Critical Notes:
Divergence Alert: RSI divergence suggests weakening momentum.
Updated Trade Plan Coming Soon! Stay tuned.
- Earlier Bearish Expectation(previous analysis):
We expected the price to continue falling, but market sentiment shifted due to the 180-day trade tariff pause news, triggering a bullish wave instead.
- Current Trend Shift:
Bitcoin is now in a short-term bullish wave, but still trapped in the descending wedge (bearish pattern) with RSI divergence.
Key Scenarios to Watch:
- Scenario 1: Bearish Continuation (High Probability)
Trigger: Rejection from wedge support line + new lower low with RSI divergence => enter long after getting confirmation in lower timeframes.
- Scenario 2: Bullish Continuation
Continuing the upward trend => breakout and close above the blue resistance zone.
(Will update analysis for new long setups)
Critical Notes:
Divergence Alert: RSI divergence suggests weakening momentum.
Updated Trade Plan Coming Soon! Stay tuned.
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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.
Related publications
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.