In my previous post yesterday i called a breakdown in bitcoin
. Shortly after we saw the price start to breakdown. On the higher timeframes (daily and 4 hour) we still have a bearish
divergence working which has me still thinking bearish
about the market. On the lower time frame you can see we are forming a bearish wedge
as the price slowly climbs upwards. The area i expect it to breakdown coincides with the top of the wedge
, a retest of an old trend line
and the neckline breakdown of the big M.