A smaller falling wedge was formed on the large wedge on the #BTC daily chart. Will it break up?
In image 1 we can see the price chart of the #BTC and the #RSI indicator:
Image 1 : tradingview – 2018-05-18 – 1 day timeframe – BTC wedge
You can see a larger wedge with neutral inclination in purple, and inside a falling wedge traced in purple. The falling wedge is a bullish pattern that suggests a rise in prices. Even the RSI and the oversold Bollinger bands suggest a rise in prices.
At this moment, however, every forecast must be taken with attention given the mainly bullish trend. So one possibility could be to try a long entry on the short run, bearing in mind that the purple triangle would be a resistance.