dipping lower

looking like we may break to the downside of the ascending wedge. in the process of retesting the bottom of the wedge.

also seeing bearish divergence of the RSI, which increases the probability of moving lower.

target is $36.5k where i may look to open a long position.

Comentário:

watch for a potential bounce on the up trend line. i think a classic bump & run reversal is most likely here though.

we've already got 3 points of contact on the trendline, and then a surge (bump) up to the 1.618 fib channel extension, so i don't think the trendline is likely to hold when price comes back down. also, if you zoom out it's pretty clear that this trajectory is not sustainable (on a logarithmic scale).