This 1h chart shows the recent BTCUSD price actions.
It seems like it's forming a Falling Wegde, which is considered as a reversal pattern.
for the short term, we are still heading to 3k. If this Falling Wedge will be confirmed, we could have a mid-term reversal soon.
Requirements for a reversal:
- high volume
- significant increasing price
- break out of the Falling Wedge
Bearish or Bullish?
- short term still bearish
- mid-long term bullish (depends on future price actions)
Regards
It seems like it's forming a Falling Wegde, which is considered as a reversal pattern.
for the short term, we are still heading to 3k. If this Falling Wedge will be confirmed, we could have a mid-term reversal soon.
Requirements for a reversal:
- high volume
- significant increasing price
- break out of the Falling Wedge
Bearish or Bullish?
- short term still bearish
- mid-long term bullish (depends on future price actions)
Regards