jpbrown1023

Bitcoin - I'm not sold that the bulls are back yet

COINBASE:BTCUSD   Bitcoin
Looking at the hourly chart for Bitcoin, I'm not sold that this is the bottom. Price action appears to be throwing up a bear flag/rising wedge pattern and since the pump volume has gone down. With overhead resistance on the MACD and RSI indicators, I'm remaining bearish and staying on the sidelines. I think good volume, a break of those resistance levels and a breakout of this wedge to the upside would be a strong signal to buy.
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