Bitcoin futures are threatening to break out of the falling wedge established in early December, testing resistance during Asian trade.
With RSI (14) through its downtrend and MACD set to cross over from below imminently, momentum is swinging in favour of the bulls, bolster the case for upside.
If we see a clean downtrend break, longs could be established with a tight stop beneath for protection. Depending on the risk-reward sought, potential targets include the highs set in early January or record high of $108,945.
If the price is unable to break and hold above the downtrend, it would lessen the appeal of initiating longs.
Good luck!
DS
With RSI (14) through its downtrend and MACD set to cross over from below imminently, momentum is swinging in favour of the bulls, bolster the case for upside.
If we see a clean downtrend break, longs could be established with a tight stop beneath for protection. Depending on the risk-reward sought, potential targets include the highs set in early January or record high of $108,945.
If the price is unable to break and hold above the downtrend, it would lessen the appeal of initiating longs.
Good luck!
DS
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.