BTC /USD we had opened a short in the high 19,000 area. As the Rising wedge came to a completing we saw good drop in price.

BTC now falls into another possibly forming rising wedge . A bearish divergence right into another bearish divergence !

The 100 day EMA has been broken. It is possible we can retest closer towards 200EMA line which would be the lower 17,000 area.

We can see to bounce around in this wedge for a little bit. As exchange inflows are not as aggressive compared to derivative exchanges. (Detailed Analysis on exchange data published).

Volume has increased on derivative exchanges. It would be hard to determine which side most of that volume will go towards. We can expect a small pull back to local horizontal resistance (18,8k).

Bearish Indication:


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