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RE: Bitcoin rejected at 161.8 extension, RSI fails to confirm new highs

in #bitcoin7 years ago (edited)

IMO it looked real nasty before on the 4H and Daily, but 4H will look good if this candle closes higher, which would make the daily look a lot better too. My gut says this wedge breaks higher not lower:

I think you're right and this doesn't feel like a reversal - false breaks -> reversals tend to be much more violent and decisive!

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Especially reversals to the downside....to the upside they tend to be slower...but a top tends to see a hard and sudden movement south.

Yep, this BS is ongoing, but the lack of speed suggests consolidation rather carnage. Potential bull flag on the hourly:

Not sure if you are based in the US or not, but if not, you should have a crack in my demo trading/investing comp