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Friday, December 16, 2022

Daily Bitcoin Update - Breakdown from the rising wedge

Daily Bitcoin Update - Breakdown from the rising wedge

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Morning all,

Full TA in the video as usual. Don't forget to BOOST

Some notes:

- Bitcoin breaking lower from rising wedge
- Possible Head and Shoulder forming - right shoulder being a bearish retest of the lower trendline
- Daily indicators looking bearish - waiting for a MACD cross
- Support $16919 if this doesn't hold look for a bearish retest
- Bears will look to push price below the 200 SMA
- BTCD pumping - BTC dropping = Watch you alts positions
- Keep an eye on the SPX and NASDAQ
- PRE MARKETS RED! SPX already negative -1%
- Look for your area of value and don't make assumptions.

Be patient and stick to your strategy!

Please hit the boost button if you like this update.

Back tomorrow.



Via TradingView Ideas

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