Hello Traders,
Here is a short Bricoin analysis for the ultra short term.
Bitcoin first formed a blull flag and we now see a bullish falling wedge. That is normal, patterns change all the time and you need to trade what you see not what you think!
It would be good to see a positive divergence in the RSI but it is not there yet. This could mean that we will test the low again at 45500. However, if we break out of the wedge I see 53361 as a target.
At this moment I wait with long or short positions untill we can see which directions Bitcoin will take. Out of the wedge to the up or downside.
Traders always use your strategic placed stops in this market!