Following the rise of Bitcoin, traders should pay attention to a few important points:
1- Forming a descending wedge pattern in the 8-hour bitcoin time frame
2- At the moment when the price hits the edge of the pattern, there is a relatively valid resistance that prevents the price from rising
3- Stochastic has formed a Bearish divergence
4- Forming a pinbar...
as you see
A cup pattern is made
The next Target can be there ( shown on the chart )
You can place your Buy order as soon as the edge of the cup is crossed and tested again
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Until next time!
Cheers,
OtanaTA ( Hamid Mojarad )
