Bitcoin is currently moving inside a rising wedge pattern. RSI/Stoch overbought. "CMF" showing no real buying power. Many traders expect 7500 this week, but I see this as highly unlikely. Watch out for a break out of the wedge . If we break upward, my first target would be the 7500-7600 range. Breaking downward would drop us to the accumulation area around 6500, or even lower, to the support zone 5800-6000.
Bulls should restock their longs around the MA 314, a.k.a. the "Pi-Line" and again on the support line of the wedge.
Good luck!
Bulls should restock their longs around the MA 314, a.k.a. the "Pi-Line" and again on the support line of the wedge.
Good luck!
Trade active:
Target 1 hit, lets see how BTC price forms after the drop