Rising Wedge on the daily. Another failed attempt at $9000 a few hours ago (didn't even touch $9000 that time). RSI the highest its been since December on 12-hour, daily, etc. Bearish MACD.
Expect a correction to $8500. If the market is still too fragile to handle that then we might see a full resumption of the bearish trend and retest the $6400 range.
The last couple of rising wedges broke upward. I think the market manipulators are doing it on purpose.
like you shit on the street ironically?
This wedge covers the entirety of the rally we're in. The results of any mini wedges contained within it are irrelevant.
Lol, you moved the upper line AGAIN. Also RSI bearish div is gone.
You use way too much indicator shit on your charts, op. It's a mess.
I agree a pull back to low 8000's is in the cards but 6400 is a stretch. Too much buy pressure to allow it, I think.
>ta works in crypto
I was too lazy to turn it off and delete some of my older trendlines. Just note the pink and green.
I also think $6400 is unlikely, but I'm putting it out there as a potential target if the rally does end up collapsing under the pressure of another $500+ sell-off. I'm not sure there's enough confidence in the market to weather that yet.
Also note that I don't think we'll hit $6400 over night if we do end up breaking down. It'd be a process, just like it was a process getting us from there to where we are now.
If this acts like a fractal then the pattern is rising wedges breaking up.
>Ignores breaking upwards
>Ignores long term downtrend broken on the linear and log scale
>Ignores indecisive daily doji printed 5 hours ago
>"Hurr durr I see ascending wedge so it must dump!"
I'm sure it's been fun learning TA since yesterday but please don't share your horrible analysis with the brainlets that occupy this shithole. They might just sell before the obvious bull run we're about to experience
true rising wedges have a bearish div with each of the peaks
the last pump invalidated that
all this wedge talk makes me hungry
Forgot pic
>the market will either go up or down
To be fair, I didn't say this. I said it will go down.
holy shit OP your criteria for line drawing seems faith based.
my buy order is at $8100 and BY SHEER WILL POWER I WILL FORCE THAT TO BE THE ABSOLUTE LOWEST IT EVER GOES FOR THE REST OF TIME
Looks like a nice cup and handle forming
watch as all of your predictions, your lines, and your faith in technical analysis are destroyed when there's another gigantic bull dildo up to 10k and beyond today, solidifying the start of the bull run. I believe in TA but if you think it will work on BTC you have either not been watching the price action for the past few weeks or you are deluded. The price will go wherever the biggest holders want it to go.
Rising wedge will break upwards. This is Bitcoin, not a stock.