BTC price has risen nearly 65% off its low in July
BTC Price has finally cleared the 200MA
RSI is printing a bearish divergence
Are BTC Bulls Already Exhausted?
Bitcoin price has finally broken out of its near 2 month range below $40,000. After nearly 3 months of boring downtrend, the bulls have awoken from their slumber & pushed BTC to nearly $50,000. The overall market has followed BTC’s lead as some alt coins have surged nearly 300% from their lows. After an $18,000 pump in 3 weeks, traders are wondering when a pullback will occur. It seems as if price has been losing steam the last few days which may indicate a short term pullback is near. This will allow BTC to continue rising in a healthy manner.
Ever since the low of $29,000 was set, Bitcoin has surged nearly 70% to $48,000. The BTC price action over the last week has formed a rising wedge, which is shown in light blue. This is a bearish pattern & will activate once price breaks the bottom trend of the pattern.
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Źródło: https://coingape.com/bitcoin-hits-3-month-high-but-prints-bearish-rising-wedge-are-bulls-exhausted/
