(Meant to say bearish rising wedge in the chart)
The bearish rising wedge broke down but bounced up into the bottom resistance of the wedge
and hit the key resistance of the bearish falling triangle. One should assume a short play here
Use a Tight stop loss, there's potential it can break bullish
Last time RSI bottomed out and double bottomed was back in september and we ran from 3k to 20k. We're about to bottom out on RSI again and can potentially hit a double bottom and also bounce off bottom trend line, these two occurrences can call for a large up trend. Time will tell.
Recently, we fell from a rising wedge, we are currently in a falling wedge within a channel and sustaining, short term up trend to maybe 8,650 then looks like apparent doom to 7k and hopefully we bounce off 7k for new highs to break top trend line.
We saw a falling wedge in btc last month and another one that is larger now. The previous one played out perfect and we tested for a higher high but failed. We are now intersecting two supports that are diagonal lines which is the support within the middle of the big diagonal channel and the bottom support line we bounced off of in February. We will also bounce...
possible inverted h & s off 8,9 also a fib level, brining btc to new highs then coming down to test bottom support where we hit last on the 1 fib. the new highs from inverted h&s could bing us to bottom support around 9k