Bearish rising wedge within in a larger wedge.. BTC stalls here and breaks down.. things "could" get extremely ugly. DXY USD still in a long term uptrend.. Over 10yrs.. DXY holds support in this range.. 92/90 ish.. looking for 25-35% up on the USD = pain for BTCUSD. DXY targets on moves up are 121.00 2000 highs to the insane parabolic moves to 135 to 165, look for EURO to start to implode, or DB, Italian banks, etc. NEUTRAL to SHORT on BTC
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Possible unseen catalyst for sell off is Biden's Capital gains expected increase from 21% to 28% /32 % back to previous rates, traders lock in profits at a better tax rate. fwiw.
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Wedge overshoot.. classic move for the year 2020, becoming very common in equites, and oil... now BTC? .. classic drop during a US holiday, seems a becoming tradition... 13300 fails.. HUGE pain comes to BTC 8625-8325 possible
