🧐Now I want to look at the daily chart of bitcoin.
We can see the ascending channel, which will soon come to the side resistance, and we will expect breakdown of the price. To understand the length of the movement, you need to measure the height of the channel. On the chart, I marked it in blue colour🔵.
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My point of view:
Momentum and stochastic exhausted (at it's top) and volume decreasing (daily charts). Volume oscilator is in the lowest point from december 2019 (think that next move might be strong)
we are at rising wedge which usually breaks downwards. you can see estimated breakout time in date range below (we have more then a 1 day left).
going further:
we've created decending triangle inside our wedge on smaller time frame which usually breaks downwards here:
since the momentum turns to selling and stochastic is high i think it's more likely we will brake downwards. Also ROC indicator shows bullish divergence from the beginning of the rising wedge formation...