Bitcoin is very active recently, it has been going up and down for a while. So, it is hard for traders to catch the right point. At least I found it hard to predict the targets.
So, let’s see the signals here.
I marked a rising wedge. Yes, it is a small rising wedge, and to be honest, this is not a precise rising wedge. So our confidence about the bearish signal it offers could be lower than other rising wedge.
The RSI is high, and we can see it really high. 70.05 is an overbought level. Don’t worry, overbought could be a temporary situation, I think now it could be the end of the overbought because the pressure from the upper bond is clear.
The MACD could create a dead cross. This could be a bearish signal and better than RSI.
I would like to see the price go down, however, the signals are vague.
Let’s wait to see more signals.
So, let’s see the signals here.
I marked a rising wedge. Yes, it is a small rising wedge, and to be honest, this is not a precise rising wedge. So our confidence about the bearish signal it offers could be lower than other rising wedge.
The RSI is high, and we can see it really high. 70.05 is an overbought level. Don’t worry, overbought could be a temporary situation, I think now it could be the end of the overbought because the pressure from the upper bond is clear.
The MACD could create a dead cross. This could be a bearish signal and better than RSI.
I would like to see the price go down, however, the signals are vague.
Let’s wait to see more signals.
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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.