After a 1000$ Falling Wedge resistance finally breaking, BTCUSD has broken the downtrend line. It seems as if we'll be making an Inverse H&S with the trend being fairly strong as the 4H Bullish Divergence finally comes into play with the 1H breaking the downtrend as well.
The price should retrace back down to the Falling Wedge's (Red) resistance line as the 1H RSI shows a Bearish Divergence in the price.
Overall, I'm still bullish. Tried to call a reversal earlier, which didn't pan out too well but re-positioned myself at the bottom of today's base so I'll be looking forward towards making back those profits by riding the Inverse H&S waves.
-Wolfie
The price should retrace back down to the Falling Wedge's (Red) resistance line as the 1H RSI shows a Bearish Divergence in the price.
Overall, I'm still bullish. Tried to call a reversal earlier, which didn't pan out too well but re-positioned myself at the bottom of today's base so I'll be looking forward towards making back those profits by riding the Inverse H&S waves.
-Wolfie