BITCOIN-RISING WEDGE FORMATION

BITCOIN

Due to the lack of investors in bitcoin it has lost almost 50% of the recent gains

*The negative risk sentiment accelerates further selling of this pair

*Most of the cryptocurrencies followed the same suite

*5600 is the recent resistance zone which is also a 23.6 Fibonacci level

*The rising wedge pattern is forming will cause further falling

*We can open short positions at 5600 level

*Potential take profit will be 4780 level which is also a 78.6% Fibonacci level

*Stop lose may placed above 5800 level

*Leave your valuable comments below