![Btc v1. 05 followup - closer look at rising wedge [4hr]](https://ohiobitcoin.com/storage/2019/03/yRk5NJ.png "Btc v1. 05 followup - closer look at rising wedge [4hr]")
![Btc v1. 05 followup - closer look at rising wedge [4hr]](http://ohiobitcoin.com/storage/2019/03/yRk5NJ.png "Btc v1. 05 followup - closer look at rising wedge [4hr]")
is currently forming a possible on the 4hr chart. In order to invalidate this formation, the bulls would have to push the price back up with higher , but looking at the daily Stoch-RSI, it appears that buyers may be out of steam for the next few days, which would project further downwards price movement. Current levels to watch are the $3,700 and $3,500 region, with the $3,700 being an important short term target. Depending on how strong the bounce around this area is, we could either see consolidation for the bears, or a possible trend change for the bulls.
Short Term Statistics (Few Days):
– Price Moves to $3,700 (40% Chance)
– Price Moves to $3,500 (40% Chance)
– Price Moves Elsewhere (20% Chance)
Levels to watch:
– $3,700 (Target of the )
– $3,700 (Area of 0.618 Fib Retracement)
– $3,500 (Strong )
Notes:
– Daily and Weekly timeframes show potentially scenarios, which in turn could result in downwards price action on lower timeframes.
Published at Fri, 22 Mar 2019 02:26:30 +0000
