BTC-USD 1D Chart
Price dropped slightly below previous ATH.
Although huge rising wedge has been formed, actual uptrend might continue if price will hold a trend line - orange.
Candle closed below bottom line of rising wedge will confirm formed bearish pattern and we might see 57k or 50k again.
4H-1W : RSI and MACD look little bit overbought on multiple timeframes and we would like to see them to cool down.
1W : RSI still in potential bearish divergence.
30min - 2H : RSI and MACD looks optimistic for a short bounce up.
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I am not sure about next market direction, sitting on my hands now and waiting for a signal. Patience is a key.
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This is not a financial advice
Do your own research.
Price dropped slightly below previous ATH.
Although huge rising wedge has been formed, actual uptrend might continue if price will hold a trend line - orange.
Candle closed below bottom line of rising wedge will confirm formed bearish pattern and we might see 57k or 50k again.
4H-1W : RSI and MACD look little bit overbought on multiple timeframes and we would like to see them to cool down.
1W : RSI still in potential bearish divergence.
30min - 2H : RSI and MACD looks optimistic for a short bounce up.
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I am not sure about next market direction, sitting on my hands now and waiting for a signal. Patience is a key.
-------------------------------------------------------------------------------------------------------------------------------------------
This is not a financial advice
Do your own research.
Comment:
Minor trendline was broken, chart fis forming new downtrend channel / potential bullflag.
Comment:
Nearly in contact with trendline.
Nearly in contact with trendline.
Comment:
Landed.
Comment:
Fundamental analysis of drop with onchain data by Willy Woo :
https://twitter.com/woonomic/status/1383841368829677568?s=201
https://twitter.com/woonomic/status/1383841368829677568?s=201
On the way to orange trendline, It will be very interesting to watch the price action at the level of previous ATH and at 60k - strong technical and psychological support.