BTC might break a rising wedge, bearish
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Theres no way around it other then thats a big red candle. Although btc/xbt has been in a nice uptrend, if it breaks that rising wedge its going to be bad. I dont want to speculate on price too much since in crypto anything can happen but there is going to be a psychological level at 4000 to break, a fib resistance for both the short term and long term trend at 3750 as a strong support. MACD has also turned so that a selling signal as well.
In times like these when btc goes bad, its not a bad idea to short the move, or buy into alts once btc reaches the bottom.
In times like these when btc goes bad, its not a bad idea to short the move, or buy into alts once btc reaches the bottom.
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Colored fib is short term trend, red lines are from longer term fib trend
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