Formation of Rising wedge in Bitcoin
* Bitcoin rallied almost 40% from it's major support forming a rising wedge pattern in 4H time frame.
* Rising Wedge definitely slope up but it is a bearish pattern which begins with a wide bottom and as price move up it becomes narrow.
* The RSI in BTC also indicates a bearish divergence.
* RSI divergence occurs when there is no longer the same momentum with the price action and the RSI indicator.
* Rising Wedge definitely slope up but it is a bearish pattern which begins with a wide bottom and as price move up it becomes narrow.
* The RSI in BTC also indicates a bearish divergence.
* RSI divergence occurs when there is no longer the same momentum with the price action and the RSI indicator.
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First target hit