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Bullish breakout rising wedge into rising wedge, Huobi, #bitcoin

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
So as you can see, we have the mythical bullish breakout of a rising wedge into another rising wedge ... seen it here first folks.
A rising wedge is a bearish signal, yea?
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flibbr PRO Don_Bossa
Well when they pop out.. they break down.. so yes... they are a bearish pattern... but this is bitcoin, the honey badger... bitcoin no give a shit for nothing in rally mode.. lol
+2 Reply
Very true. Bitcoin doesnt give a f**k about Technicals
+1 Reply
flibbr PRO Don_Bossa
Yeah.. in bear mode its pretty good.. in bull mode.. pedal to the metal.. this things got legs ! lol
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grahvity flibbr
But with it being this overbought, some relief in order. I'm not selling but I'm also not buying more with everything being pegged to the top in the higher time frames.
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flibbr PRO grahvity
Yeah, read what 4xforecaster just wrote about overbought / oversold labels, https://www.tradingview.com/v/YntcRDde/#tc78415
+1 Reply
grahvity flibbr
Good read. Thanks for pointing that out to me.
Reply
I retweeted this. I hope you don't make us look silly.
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flibbr PRO grahvity
Haha. China makes us all look silly. They sell the thing down the drain.. then ride it just straight up vertical not a market sell in sight..
+1 Reply
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