Bitcoin Falling Wedge on hourly. 1st target $8.2 then $9k?

in #bitcoin • 7 years ago

download.pngBTC on the hourly chart looks promising. We have a falling wedge which is a bullish pattern.

MACD is looking bullish and RSI is showing a nice upward trend.

If there is a breakout to the upward direction, I would expect the price to test the lower upward trend line (Red) around the 0.618 fib levels which can take the price to $8.2k. If that is broken then high chances are that we might get to $9k. However if the price does not manage to break upwards, we might see a drop to $7.7k. However the first scenario looks more likely.

We are still however waiting for a breakout to determine where the price will head to.

#cryptocurrency #technicalanalysis #btcusd #bitcoinforecast
7 years ago in #bitcoin by
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