I have buy orders inside the RISING WEDGE pattern, with a planned escape if the bounce doesn't clear the 21 DEMA -and would also confirm the potential for further SIGNIFICANT DOWNSIDE.
BULLISH CASE: This could end up becoming a "W" pattern, short term reversal -long term CONTINUATION. FUNDING RATE (Bitmex) is trending negative, which is BULLISH. Looking for PA to hold support above the local 81.8 FIB RT -if there is a candle body close above the 50%, that is a GREAT SIGN.
HOWEVER -there is much more BEARISH confluence right now.
A 20K BTC would be A GIFT, and a VERY WELCOME one.
BEARISH CASE: DXY was looking very bullish heading into the weekend TOTAL MKCP is not getting much volume, bouncing between 961BB and 1.06TT Bearish PRICE STRUCTURE -low volume. PA is meandering just above a crucial support, a break below will flip my bias to BEARISH (short term)
Plan not set in stone, it is only SATURDAY -but we have been getting some serious PA over the weekend when the CME has been closed.
Also, the DXY heading into the weekend was looking pretty BULLISH.