I am a bear...I love to short everything not just bitcoin...I don't know why but I just enjoy the short trade much more than the long. If this was inverted and a coin or stock was printing this kind of RSI/VOLUME divergence coupled with a wedge...I would be shorting it pretty hardcore, SO that being said I think based on technicals we should see a pump out of this range at any time
If we do see a dump out of this wedge that would be an incredibly bearish/weak signal and would prove to me my hypothesis of triple digits is on point. If the bulls were going to make a stand I think it should be now.
If we do see a dump out of this wedge that would be an incredibly bearish/weak signal and would prove to me my hypothesis of triple digits is on point. If the bulls were going to make a stand I think it should be now.
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Update- falling wedge has been broken on volume that is not great but above average...after a retrace I look for at least one more wave up if not more. A close abve the 65 4 hour EMA, which has not been done in this downtrend would add weight to the bullish case as would a turn to green of the 4 hour hull which likewise has not taken place in the current downtrend. An agressive target would be 3950 and a bull target would be 4432. I am going to scale into longs from here down to 3200, If I get rekt counter trend trading then so be it. Remember the trend is still down but a short term reversal may be upon us.
