BTC Max pain scenario

16 בדצמ׳ 2020

Pain for both longs and shorts, pushing price as high as possible before dropping it. Currently price is near the top of the 1 month range. I see a rising wedge with ABCD pattern inside of it. These are bearish patterns in addition to 1H bearish divergence present, but wedges can break up in a blow off top when BTC is overheated. So currently this area is a no trade zone until price breakout of the wedge in any direction.