Bitcoin (BTC) Prepares For Its Biggest Fall In Weeks

2018-7-24 21:30

Bitcoin (BTC) has run into strong resistance as it struggles to break past the downtrend line, but overall conditions indicate that this rally is now over. RSI on the BTC/USD chart above is trading in a rising wedge and has now reached the upper limit of the wedge.

The IFT Stochastic also indicates a pull back as it has topped out. EMA alignment for BTC/USD continues to remain bearish. This indicates that the price is due for a pull back in the near future and is expected to correct in a downward direction.

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