NikolaGr

BTCUSDT Rising Wedge approaching heavy resistance

Short
BITTREX:BTCUSDT   Bitcoin / Tether
BTCUSDT

BTC has been moving between Gann angles so far with additional support and resistance levels offered by the Resistance lines 1 and 2, lately it bounced off the Support 1 line forming what appears to be a rising wedge pattern (for now).

Now its approaching the same resistance zones again, with a under-the-cloud-cross on the 2 Ichimoku lines under a red cloud. In the past a cross under the cloud indicated a weak jump in price that would usually go a little bit over the cloud but then drop down under it again.

We might see a return to the Support 1 and 2 line before another bounce back up.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.