🔥 Bitcoin Rising Wedge Break Out: Trend Shifted!
Updated
In my most recent BTC analysis I talked about the rising wedge pattern, where BTC broke out off. My initial expectation was that we'd fall further, but we saw a retest of the bottom support before going down again.
This is bearish. Breaking out and retesting the previous support/resistance is generally seen as confirmation in the shift in trend.
I'm looking for more bearish price action over the next few days. Targets in blue.
In the longer-term the chart still looks bullish. However, that doesn't mean that we can't look for short-term shorting opportunities.
This is bearish. Breaking out and retesting the previous support/resistance is generally seen as confirmation in the shift in trend.
I'm looking for more bearish price action over the next few days. Targets in blue.
In the longer-term the chart still looks bullish. However, that doesn't mean that we can't look for short-term shorting opportunities.
Note
✅ Target 1 hitNote
✅ Target 2 hit
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