Potential Bitcoin Breakout
Updated
Hello Traders,
1.) To begin with, bitcoin has been trading inside this falling wedge pattern, which is typically considers a bullish pattern. The next 4-hour candle could decide the potential breakout.
2.) The SMI indicator shows a cross in undervalued territory, indicating a potential reversal.
3.) The MACD shows a bullish divergence
Counterpoint: No increasing volume, this could mean a fakeout, so beware.
No financial advice, cheers.
1.) To begin with, bitcoin has been trading inside this falling wedge pattern, which is typically considers a bullish pattern. The next 4-hour candle could decide the potential breakout.
2.) The SMI indicator shows a cross in undervalued territory, indicating a potential reversal.
3.) The MACD shows a bullish divergence
Counterpoint: No increasing volume, this could mean a fakeout, so beware.
No financial advice, cheers.
Note
We have broken out + volume increase
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.