pidulgi

pidulgi

As seen on the daily RSI, Bitcoin has been on a momentum downtrend since the beginning of this year when we've hit the JAN/21 ATH at $41825. Since then, the momentum downtrend has started, with increasingly lower highs and lows, and it was only inevitable that the raising wedge would break down, and as the bulls momentum faded out, the "gravity" of the bears...

pidulgi Updated 

BTC seems to be forming a rising wedge since the 7th of June. The price moves between the bottom trendline that started with the last "crash" to the $31k price, and the upper trendline starting from $36.8K. We have 5 touches so far, and the pattern keeps confirming with every touch. The pattern has an about 60% chance to break downwards with a final target at...

pidulgi Updated 

BTC is currently in a rising channel. We have all been observing this formation, initially thought it as a rising wedge but after the latest bounce at 37150USD, it looks like a "nice" symmetrical rising channel with around 8.5% width. We are already moving towards the 5 bounce around the 41800USD area, which so happens to be the January ATH, a very strong...