Is Bitcoin really breaking down the support of rising wedge?



 Hi dear friends, hope you are well, and welcome to the new update on Bitcoin .

https://www.tradingview.com/chart/BTCUSD/XpBibiTd-Is-Bitcoin-really-breaking-down-the-support-of-rising-wedge/ 



The rising wedge pattern is considered as most of the time a bearish reversal, but in the case of BTC , it is more often behaving opposite in this bull run.

Today the priceline is opened below the support of the rising wedge pattern, but we still have the support of daily 25 simple moving average and immediate support of 50 SMA as well.

The volume is also decreased and not supporting the breakdown so far.

We need to keep an eye on volume and the daily closing.

If the price action will be bounced from here then an imminent move to the resistance of the wedge, which is approximately $67K, is possible otherwise in case of a breakdown our 1st support will be $45K.


Click here to create an account on Binance, the best place to buy or sell Bitcoin

For more trading signals you can join:

https://www.patreon.com/moon333

/////////////////////////////////////////////////////////////////////////////////////////////////////////////////

 

 

 

 

Earn best passive income on Tron Adz

Note: the above external link will take you to the Tron Adz page, wehre you can lend you trx and earn good ROI, any Tron based wallet is required

Comments

Popular posts from this blog

Its Not Hard For Litecoin (LTC) To Breakout $200 Resistance

Vechain (VET) | This Dump Will Lead To A Big Pump

Tron (TRX) Can Turn Your Thousand$ To Million$ Here Is Why | TRX Analysis 2020-2021