Bitcoin forming a descending Triangle. Typically this is a bearish formation BUT not always. We need some volume to push out of this on the upside. It has continued to test it a few times.
Make sure to wait for a confirmation and not just buy on a wick.
Do we crack 49k tonight or go lower? All I wanna know right now...
CryptoLuxury7
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@bed87 I wish I had a magic ball that could guarantee that answer. lol
bed87
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@CryptoLuxury7, The problem is, setting a stop limit buy order at that level could just be a quick fakeout and then back down again...
CryptoLuxury7
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@bed87, absolutely! That is kind of where I was going with the wicks. It often looks like a confirmed breakout but I don't typically make a move until it at least a retest or get some bullish movement after breakout.
mwinmill
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Look at the daily chart. It's a descending expanding wedge. Bullish.
CryptoLuxury7
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@mwinmill I do like that on the daily, the last time the RSI dipped this low it rebounded to our last ATH.