BTC giving bearish signals

10 במאי 2021

1. Forming a rising wedge - if it occurs in a downtrend then it acts as a continuation pattern and in an uptrend its a reversal pattern.
2. Bearish divergence on RSI and MACD

Waiting for the confirmation if it breaks below the rising wedge, target of a dip is shown in the chart.

12 במאי 2021

הערה

So far, BTC is bearish, it got rejected from wedge's lower line.
There is a strong support at 53164, price could also bounce back from it. If it breaks below this level, then for sure BTC will meet the target mentioned in the chart

16 במאי 2021

הערה

That is amazing, it exactly reached the bearish target after breaking the wedge!