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Bitcoin Will Jump After The Drop (Short-Term Analysis)

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
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?

Share with us in the comments section below.

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Comments

Very good analysis.
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