It looks like we have formed a double top around the top of the rising wedge, question is are we going to fall back down to retest the bottom of the rising wedge at 57k and a potential fake out? As always, we are in a bull market. The market will want to take the most amounts of money as possible before making a big move to the upside. It looks like Bitcoin is not ready to break out yet. The target of the rising wedge if we breakout is 76825.5 roughly, pulled from the top to the bottom of the rising wedge. I personally don't think we are going to fall pretty hard after we have spent over 30+ days around these levels past 50k. Also keep in mind, the RSI is showing 80 on March 13th and 75 on the most recent push. Let's see what plays out over the next few days.
Indicators:
Volume
EMA Ribbons
BB 20
RSI
As always, leave a comment, like, and follow for future updates!
Happy trading, traders! :D
Indicators:
Volume
EMA Ribbons
BB 20
RSI
As always, leave a comment, like, and follow for future updates!
Happy trading, traders! :D