- Adx not showing any emerging trends just yet
- Daily timeframe shows a bearish RSI divergence from price
Will have to wait to see which structure prevails. Expect an explosive move once consolidation ends.
-Previous descending triangle has already been broken
-Shows a nice hammer bounce from the upper trend line of the triangle
-RSI manages to stay at around the 50 mark
-Expecting ADX to soon pick up on bullish momentum
BTC is trading within two interesting structures;
-A bearish descending triangle and a possible bullish falling wedge
-Multiple rejections at the 50 RSI mark indicating failure to establish lasting bullish momentum
-Multiple fakeouts signaling weakness
-ADX started picking up bearish momentum at the 20 mark
Waiting for a few more candles to see where the market...
