Some quick BTC TAsteemCreated with Sketch.

in hive-172186 •  3 years ago 

Some quick BTC TA...

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I mentioned over the last few days that $45k-$46k is possible but we had not yet re-tested the previous resistance around 40k after the recent pump. Bitcoin tested $45,500 overnight around 3AM EST and bounced off the resistance. Since this move, Bitcoin has been retracing to the downside.

This retracement reset the RSI's on the 15 minute and hourly charts. This downward price action has formed a falling wedge on the hourly chart. With the falling wedge and the low RSI and Stochastic RSI on the hourly, there is a good chance our falling wedge breaks to the upside and retests the $45,500.

If not and BTC continues to the downside, we could easily see Bitcoin first test 42k and eventually 40k.

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