Textbook rising wedge formation forming off this 8000 support. Short MACD is trending down, we could see a drop below the wedge soon due to the oversold nature of RSI.
If the price breaks 8200 we could break up from wedge to 8400-8600 levels. However if the wedge breaks down we could see a deeper slide as the buy walls on Bitfinex indicate poor support on the way down.
If the price breaks 8200 we could break up from wedge to 8400-8600 levels. However if the wedge breaks down we could see a deeper slide as the buy walls on Bitfinex indicate poor support on the way down.
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Profit taken 8367