USDT premium has started fo rise again
BTC/USD
So the USDT premium has started fo rise again, making it roughly a $200 premium. So i will be going with Coinbase pricing for this analysis.
For the past 2 and a half months we have been stuck in a trading range between 6100-6750. As time has moved on this trading range has gotten smaller and smaller. Currently we are stuck between 6200-6400. We have slowly been consistently breaking through support levels and retesting them as resistance. We are currently sitting between the 6240-6300 range (Support/Resistance)
But heres some good news. On the 2 hour chart we can see a potential falling wedge forming. WITH bullish divergence on the RSI + MACD. We still however have a bit more space to fill the wedge (fall deeper) before a potential breakout ensues.
Down below i have attached 2 charts:
- Showing support/resistance levels for the past month or so (on the 1hr chart)
- The potential falling wedge pattern with indicators on the 2hr chart
To listen to the audio version of this article click on the play image.
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