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JackyAo
Apr 7, 2020 7:07 PM

Bitcoin Bearish - Rising Wedge + Daily Death Cross + Overbought Short

Bitcoin / United States DollarCoinbase

Description

Likely heading down.

1) Bitcoin is printing a textbook rising wedge
2) Death cross on the daily
3) Overbought RSI
4) Massive weekly resistance level
5) 50 MA daily put pressure down to complete wedge
6) Confluence on 4 HR resistance trend line from the sell off at 10k levels
7) Drop in volume which confirms the pattern and breakout is imminent to either side but with bearish bias
Comments
JackyAo
Anyone agree with me?
gigabyte3d
@gigabyte3d, wrong link - please ignore.
filipbronola
@JackyAo, Hoping this is exactly what's happening. Last time people were bullish when a similar formation occured on march 7th and that was just before the giant dump. It looks like a repeat, and I hope it is too.
gigabyte3d
@JackyAo, I agree with you.
VincePrince
Seems logical to me
AHMTrader
I agree with you.
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