VincentBoudewijn

Bitcoin is close to a decision point!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone,

Bitcoin has seen a fantastic rally over the last months. We've managed to reach all the way to the all-time highs.

There hasn't been any serious pullback yet.

I've found a bearish divergence on the daily timeframe in the RSi and a rising wedge pattern.

The target of the rising wedge is calculated by the height of the wedge , so around 16200.

If the rising wedge is to complete, we will see one more pump towards 20k and then a real pullback will start.

However, that being said, if bitcoin manages to clearly pump above 20200 and actually closes there, I think much higher prices are in play.

Thanks for reading my analysis,
Goodluck!
Comment: Rsi Divergence on the daily chart