BTC Simplified: Rising Wedge and RSI heading towards Trendline
Following idea:
BTC is in a downward trend on the RSI but currently around 40% away from the trendline.
Going up on the RSI by this 40% could be caused by a price raise up to the upper rising wedge line.
A similar 40% RSI increase in July-August was caused by a ~70% price increase
-> same numbers are needed for the current setup.
Curious what's gonna happen. Looking forward to your comments.
BTC is in a downward trend on the RSI but currently around 40% away from the trendline.
Going up on the RSI by this 40% could be caused by a price raise up to the upper rising wedge line.
A similar 40% RSI increase in July-August was caused by a ~70% price increase
-> same numbers are needed for the current setup.
Curious what's gonna happen. Looking forward to your comments.