Bitcoin Will Jump After The Drop (Short-Term Analysis)
Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅ Here we are looking at Bitcoin (XBTUSD) on the 1H timeframe (Short-term).
- Prices are moving lower within a broadening falling wedge.
- Trading volume is still low so this move is yet to develop.
- The indicators are trending down/lower (RSI and MACD).
Prices for Bitcoin (XBTUSD) can drop (red arrows) before moving up (green arrows).
Multiple scenarios are drawn on the chart.
Where do you think Bitcoin is headed short-term?
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Namaste.