Falling wedge on 15min time frame, bounce should occur soon

2018年5月6日

Falling wedge is a bullish pattern. RSI for 5mins, 15mins and 1 hour are close to over sold.

Having said this, we have now lost the 4 hour higher low and the daily higher low. BTC mid term is not looking good at all.

2018年5月6日

註釋

We are still within the wedge. Hourly hammer pattern forming too. Short term target is 9700-9800 roughly. Then we will probably see another fall to below 9454 (current lower low on daily time frame) and begin weekly consolidation. We've had 4 green weeks in a row and I think some weekly consolidation this week will help us push higher during the 14 May week.

2018年5月6日

註釋

Hourly candlestick is more like a dragonfly doji than the hammer. Let's see if we can get a good bullish candle in the next hour.

2018年5月6日

註釋

We have broken out of the wedge. There's not much bull volume though, which is concerning.