Bitcoin Analysis 8/12/22 (Stan Weinstein 30-Week MA Principle) Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Aug 12, 2022 2:26 PM

Bitcoin is still trading within this potential Right-Angled Broadening Wedge on the 1 Day Chart and according to the Stan Weinstein 30-Week MA Principle as long as the price is below the 30-Week MA, we need to be careful of any fake-out rallies.

Trend Analysis Bitcoin (Cryptocurrency)Contains image

Comments

peterbhc

⋅ Aug 12, 2022 3:48 PM

the gravestone is very telling. Just look at all the selling wicks above 24

NeutronMan

⋅ Aug 12, 2022 4:00 PM

@peterbhc I agree! I saw the gravestone doji and that made me more bearish