Triangle (orange lines)
We see a triangle, which is a continuation pattern.
--> expectation: upside breakout
Rising wedge(blue lines)
However, we could also see a rising wedge, which is a reversal pattern
--> expecation: downside breakout
Bearish divergence between price and RSI (red lines)
We notice bearish divergence between the price and the RSI: price action is not confirmed by momentum (indicated by the RSI)
In general, this would mean a correction
So signals are mixed... time will tell
PS (personal opinion)
Personally, I would never short bitcoin, or crypto in general, as to my opinion the crypto-market is in a bull market: there is an upside bias on the long term so why would I take a short position.
I don't want to say that I wouldn't take a short position on a 15-min chart, as the upside bias doesn't apply to that timeframe.
But on a 4 hour, daily and weekly timeframe I wouldn't short
We see a triangle, which is a continuation pattern.
--> expectation: upside breakout
Rising wedge(blue lines)
However, we could also see a rising wedge, which is a reversal pattern
--> expecation: downside breakout
Bearish divergence between price and RSI (red lines)
We notice bearish divergence between the price and the RSI: price action is not confirmed by momentum (indicated by the RSI)
In general, this would mean a correction
So signals are mixed... time will tell
PS (personal opinion)
Personally, I would never short bitcoin, or crypto in general, as to my opinion the crypto-market is in a bull market: there is an upside bias on the long term so why would I take a short position.
I don't want to say that I wouldn't take a short position on a 15-min chart, as the upside bias doesn't apply to that timeframe.
But on a 4 hour, daily and weekly timeframe I wouldn't short
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.