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BTCUSD: Bullish trend continuation
Dear trading enthusiast,
Price action in the coming days is rather important for determining the overall direction in the coming weeks and months.
Looking at the current trend:
- Price is contracted in a falling wedge (green) and testing the bottom of the yellow channel.
- RSI is printing hidden bearish divergence.
I expect to see price brake out upwards out of the falling wedge (green) and re-test the upper resistance (blue) shortly after.
A closure (on the weekly) candle below 8000 would be rather bearish (short-term) and require a new analysis.
TheNDK
*** This post is for your entertainment only and not trading advice ***
Price action in the coming days is rather important for determining the overall direction in the coming weeks and months.
Looking at the current trend:
- Price is contracted in a falling wedge (green) and testing the bottom of the yellow channel.
- RSI is printing hidden bearish divergence.
I expect to see price brake out upwards out of the falling wedge (green) and re-test the upper resistance (blue) shortly after.
A closure (on the weekly) candle below 8000 would be rather bearish (short-term) and require a new analysis.
TheNDK
*** This post is for your entertainment only and not trading advice ***
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