DecisionDoji

Bitcoin CME future ( $BTC 1! 1D) obvious wedge is obvious

CME:BTC1!   Bitcoin CME Futures
Every good thing must come to an end. Bitcoin is trending up since December 2019 in what now most definitely look like a rising wedge .

The previous trend was Down from 14k high so I will be very cautious about the direction of the breakout off the pattern. Depending on direction of the breakout it can be either indicative of a new uptrend or in most case a continuation of the prior downtrend.
The bitcoin volatility seems to be up ticking and volumes are quite high but nor RSI nor Stochastic has cracked yet.

As time goes by, I will keep you updated on the evolution of the chart, so make sure to follow me on Tradingview

Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said from the chart.
Due to the volatile nature of the cryptocurrencies market, it can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
Feb 18
Comment:
the breakout happened with huge volume.
Is it real or false ? can't decide yet.

Comments

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