Continue to update BTC structure from previous posts. Bitcoin price is reversing in Descending Wedge (Falling Wedge) with RSI giving us Bullish Divergence signal. Projected take profit targets near 12000 and 12700 dollars.
As we saw price started to surge from 13200 («B» wave purp) with Bearish divergence on RSI and Ascending Wedge (Rising Wedge) breakout. I called this move on previous analysis
Now price made a new Descending Wedge (Falling Wedge) on a chart you can find it marked with blue lines. Projected target of this wedge should be around 12000 as TP1 and 12700 as TP2. Good stop loss is under previous low at 10950.
RSI stoped dropping at 23 (11600) and continued with higher lows from it with bullish divergence and lower lows on price 11150 and 10980 respectively.
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Price reversed near our target just in 100$ at 11900$ now we are going to complete C wave
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Reached 10430 and now might rebound near it or 10030