Hello Traders,
1.) To begin with, bitcoin has been trading inside this falling wedge pattern, which is typically considers a bullish pattern. The next 4-hour candle could decide the potential breakout.
2.) The SMI indicator shows a cross in undervalued territory, indicating a potential reversal.
3.) The MACD shows a bullish divergence
Counterpoint: No increasing volume, this could mean a fakeout, so beware.
No financial advice, cheers.
1.) To begin with, bitcoin has been trading inside this falling wedge pattern, which is typically considers a bullish pattern. The next 4-hour candle could decide the potential breakout.
2.) The SMI indicator shows a cross in undervalued territory, indicating a potential reversal.
3.) The MACD shows a bullish divergence
Counterpoint: No increasing volume, this could mean a fakeout, so beware.
No financial advice, cheers.
Comment:
We have broken out + volume increase