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BTCUSD - Rising Wedge & Bearish Divergence

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BTC appears to be approaching the end of a rising wedge and may need to consolidate after reaching ATH's. Price has been unable to break and maintain 60k and appears to be nearing its reversal point. It will likely test 60k in the near term before drastically correcting.

It also appears to be indicating a classical Bearish divergence on MACD & RSI, both of which are demonstrating lower highs in contrast to the price momentum. Again, it may break upwards in the near-term, but a significant downside trend seems to be approaching.

Nota

Target broke exactly as predicted. Guessing some sideways momentum & gradual decline ahead, until the consolidation period ends

BillyMadison

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