COINBASE:BTCUSD price just below an important resistance on the weekly time frame.
Even though, i wouldn't be surprised of a large wick attempting to break decisively the 12k, and even finding support above; it's likely, that eventually, we will come back to the 9k-10k area, where we find confluence of a couple of trend lines and the 25 july CME futures unfilled...
I rarely take fundamentals inside my equations, but, given the importance of this event, i took some notes and observations on what happened around july 9 2016.
Bitcoin is definitely behaving differently than 4 years ago; but...
Interesting fact: BITFINEX:BTCUSD bottomed at $563, exactly 30 days after the july 2016 halving.
So, what are your thoughts for...
BITFINEX:BTCUSD
Traders,
Seems like Bitcoin is contracting into a Rising Wedge, pointing at a direction that may fill the CME futures gap in the 8250-8500 level:
Decreasing volume
5 previous daily closes above the Fib Pivot Point
Even when the wedge is not exactly pointing to that area, a throw over or a wick may close it.
The gap is exactly also...
