BitcoinShort
BTC/USD - Rising Wedge vs Perma Bulls (Who wins the fight)
BTC/USD - At the moment I am bearish on BTC unless we break above $7,800 and actually find some support without huge volatility. As you can see on the chart plotted above there is a huge rising wedge on the 4 hour time frame and also the daily time frame, combined with a steady drop off in volume, this is a by the book rising wedge and shouldn't be ignored.
A break above the wedge would put me in a scenario where I would enter alt coins and expect a market rally, until then I am sitting out of alts as they are very price sensitive to BTC.
BTC next target? a break below the rising wedge would see us with an extension target of around $7,175 -$7,200 which lines up nicely with our horizontal support structure.
Telegram - @alpocrypto for any questions / enquiries on signals group.
A break above the wedge would put me in a scenario where I would enter alt coins and expect a market rally, until then I am sitting out of alts as they are very price sensitive to BTC.
BTC next target? a break below the rising wedge would see us with an extension target of around $7,175 -$7,200 which lines up nicely with our horizontal support structure.
Telegram - @alpocrypto for any questions / enquiries on signals group.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.