Daily chart trading in a wedge with a bearish divergence in the RSI, showing that the trend has less momentum. However, the divergence does not mean that the price will reverse and start a selloff in the next days. In other words, the divergence means that the trader needs to carefully behold the price movement and wait for a reversal confirmation (maybe move...
wedge (reversal pattern) or descending triangle (continuation pattern) ? We need to wait until the price show us each one of them is happening right now in the BTC chart.
Brent was being traded inside an upward channel in the last 13 months, but in july the trendline has been broken. After this, the price started consolidating. If the price break through the support zone below, it may fall until the fibonacci retracement levels.
