BTC TO BE BULLISH NOT BEARISH, SIMPLE PRICE ACTION ANALYSIS
hey, ive changed my mind on BTC continuing to drop and think that its going to increase very rapidly soon.
we can we a descending wedge respecting the resistance. however on the RSI MTM indicator it has actually broken that resistance and this indicator catches divergences/breakouts even before the RSI does since it tracks te momentum of the momentum itself.
if the breakout does occur, we can expect it to break to 35000.
then it will retrace to the strong demand zone where we will look for confirmation that the pullback is over. ideally a strong indicating candle on the DAILY chart.
then the price will hit the two targets shown above.
let me know what yous think
we can we a descending wedge respecting the resistance. however on the RSI MTM indicator it has actually broken that resistance and this indicator catches divergences/breakouts even before the RSI does since it tracks te momentum of the momentum itself.
if the breakout does occur, we can expect it to break to 35000.
then it will retrace to the strong demand zone where we will look for confirmation that the pullback is over. ideally a strong indicating candle on the DAILY chart.
then the price will hit the two targets shown above.
let me know what yous think