SignalSwiss
Short

[BTCUSD] ---pullback in short term?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
From a technical point of view, trend on intraday chart still remains bullish , but at the same time, we cannot rule out some technical pullback in short term. Below, in the "comments" section we will publish some technical updates if there are technical conditions.

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Comments

Go 5k5
+5 Reply
Hi. TP 8k or 5-6k???
+4 Reply
10200 sell?
+2 Reply
Bitcoinblue Walentine
@Walentine, And where would you set your SL ?
Reply
Walentine Bitcoinblue
@Bitcoinblue, +100
Reply
I'm looking at it like this.
+1 Reply


I wouldn't say the daily chart is bullish. Every indicator is confirming the current formation to be bearish.
+1 Reply
Etch1234 TelecomTycoon
@TelecomTycoon, that is not a valid wedge, as there are pivots that don't touch the trendlines, and the wicks also don't even touch. What you are seeing is a parabola.
+2 Reply
@Etch1234, The volume increases with parabolas, here we have decreasing volume. The definition of a rising wedge is atleast two touch points for the support and resistance lines which we have. Even if this was a parabola, this would be the top where you would wait for a short entry

+2 Reply
Etch1234 TelecomTycoon
@TelecomTycoon, I think you are right about the volume, maybe my knowledge about wedges is different. A parabola is just a shape as far as I'm aware, but you're right that volume increasing means it has some chance to keep going up, but here it just shows it lacks strength and will break down. Your conclusion is right but the wedge I'm pretty sure is not.
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