Possible another rising wedge for BTC

25 mai 2020

We will need a little more bounces from the support and resistance in order to have this a rising wedge however, I believe we are forming one. This will allow the RSI and MACD cool down a little bit on the 1H and 4H timeframes. I have posted in my telegram chat to short from the high 9K range. We are making good returns. I don't usually look at the smaller time frames however I do like to look at the "front lines" to see what is going on with BTC when its going sideways. I'll close my short if we break out of the major downward trendline from high 9k with better volume. Volume is horrible right now. Both longs and shorts aren't having any movement which is a signal for me that not a lot of people are as interested at the moment.