Wedge break? I say bear flag BTC/USD

22 mai 2018

XBTUSD

Calling a retracement rally as compared to a break of the downtrend line.

Many calling for a wedge break however volume was very weak when the wedge broke. It is possible that we are doing a retracement for the wedge. Thus the 0.618 (8065) could be a potential retracement zone. Whereby I close half of my hedge.

Took a hedge at 8500, shall monitor as it touches each fib level.

TA:
- Daily Hidden Bearish Divergence on RSI = Continuation
- Bear flag after bear flag
- OBV is not favorable as well without any curving upwards

6hr TF Hidden bearish divergence + trading below cloud

22 mai 2018

Note

Bullish scenario is this on the 12hr TF where we see a cloud bounce, if not GG.