BTCUSD is forming an ascending triangle on 4H chart, with bullish backup from OBV & StochRSI.
Therefore we are bullish in my opinion for the next 2-3 days and we'll be challenging the 0.618 fib on 9669$.
However BTCUSD is also forming a rising wedge, which can be both a continuation pattern (with huge volume), or usually a reversal pattern.
I think after trying to break resistance we'll be heading down to 8400-8500$ support.
Therefore we are bullish in my opinion for the next 2-3 days and we'll be challenging the 0.618 fib on 9669$.
However BTCUSD is also forming a rising wedge, which can be both a continuation pattern (with huge volume), or usually a reversal pattern.
I think after trying to break resistance we'll be heading down to 8400-8500$ support.
Trade active:
OBV at peak, 3MA @ StochRSI about to reach overbought.
We'll be seeing IMHO BTCUSD taking a rest, and then continuing towards 9669 target.
We'll be seeing IMHO BTCUSD taking a rest, and then continuing towards 9669 target.
Trade active:
BTCUSD has met 618 fibonacci and now is now retracing towards 8400-8500 target. StochRSI on 4H is approaching oversold, therefore there's a slight chance the 50EMA will hold support on 8750.
Trade closed: stop reached:
Bitcoin bottomed at 50EMA, 2 dragonfly dojis , MACD & STochRSI 4H way oversold, we're gonna see a rebound to 9k at least.