I am, overall, bullish on BTC still and expect a large rally up. This area seems like a reversal point with whales accumulating. I think we'll see some more sideways action and could potentially drop to a 'Double-Bottom' should this Descending Broadening Wedge break bearish. However, the bullish divergences on the higher timeframes is starting to creep in more and more on the smaller timeframes.
I don't believe it's worth risking a short in this area with the 1D StochRSI so low.
EDIT : Sorry, its a Descending Broadening Wedge on the RSI and just a regular Broadening Wedge continuation on the price action. However, Bitmex IS showing a Descending Wedge.
I don't believe it's worth risking a short in this area with the 1D StochRSI so low.
EDIT : Sorry, its a Descending Broadening Wedge on the RSI and just a regular Broadening Wedge continuation on the price action. However, Bitmex IS showing a Descending Wedge.