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Bitcoin forming a distribution pattern - #btc #bitmex #tatip

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin is currently forming an ascending wedge right on top of a Daily resistance. This is a common distribution pattern and it appears in context with a Weekly bearish bias. If BTC breaks both supports that stand bellow 3900 and 3800 levels we are going to see price reaching as low as 3500 which is the next untested support on the chart.
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Going to have to disagree that this is not a rising wedge, although the potential of a downward move is probable having met resistance
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AlphaTradeZone LionOfTheTrades
bearish signs are too many at this point yes
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