The bear market isn't over for me yet.
Price has formed a wising wedge in leading into an area of resistance.
The rising wedge is supported by RSI.
We also have some hidden divergence, suggesting a continuation to the downside.
A very clear rising wedge is in play for XRP, combined with a primed Stochastic RSI, meaning a break through the bottom of the trend line down to $0.4 is highly likely in the next few hours (and bucking the trend, since most top coins are green to a few percent up at the moment - Ripple XRP may just be late to the party, with a nice move back up to follow).
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Just a short wrap-up regarding my latest post. Against all American opportunistic traders...not to mention names here, who never admits any mistakes in their analyses, I think I was right this time. No further comments.
As we predicted it earlier Bitcoin's uptrend faces some barriers around the 8.4 k USD area and is now in correction. As we can see on the chart an uptrend reversal movement is already on. But still there is no a 100% confirmation for it and we might see some other downtrend move depending on the strength of the bears and their dominance over the bulls. A rising...
I made a chart previously about these last few swings mentioning how I suspected a rising wedge.
We now have the bare minimum of a rising wedge with the 2 top contact points and confirmed breakout through that and further down through the support level right below.
Using the proper procedure we can determine this will lead to at least another downwards movement...
Then we will get a retracement further down than 68%. As we see the first rising wedge in green which was also part of this uptrend we could see a similar retarcement. (we COULD SEE). Let's see how far it gets. Still bearish for the bigger picture. Save trades chaps.
Hi chaps. This is the BTCEUR trading pair overview. We have been in a rising wedge that's now coming down on the bigger picture playing out on the daily. Could fall to 50% retracement, not sure. Short update with regards from Bali.
I like the look of MFTBTC right now.
We can see a falling wedge pattern forming with RSI divergence. Picking the exact bottom can be tricky, but we can see that price has already broken out. The only concern at the moment is volume has not increased.
For this pattern, I usually target the 38.2% Fib of the overall move down and place stops below the low. This is...
Confluence of a Rising Wedge and Bearish Divergence on On Balance Volume suggests that downward price action is imminent.
Target illustrated is ideally a minimum target. Price could conceivably go lower.
![BTCUSD: [BTC] Waiting for a correction](https://s3.tradingview.com/0/0DP5z0Rp_mid.png "[BTC] Waiting for a correction")
