Bitcoin price analysis - ascending wedge about to be broken; Be extremely careful!
Although Bitcoin seems to be pretty bullish lately, some formations point at the possibility of trend reversal. Right now, the price seems to fluctuate in 72xx-73xx range. I think it is gonna grow slowly until it breaks the lower (most probable) or the upper part of the wedge:
The reason why I am bearish short-term is RSI, which will more likely go downwards as it hasn't got all that much room to grow. Also, BTSUSD shorts are growing once again, which indicates the growing resistance.
Note: I do not provide any financial advice. Take any action at your own risk.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by alexanderrigov from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.