We are quickly approaching the apex point of this wedge/ pennant and BTC is looking a bit shaky right now in my eyes, we got big time rejected off the midline of the bollinger bands and aswell the top of the wedge now cruising towards the bottom of the wedge. What catches my eye the most is that if we breakdown further and out of the bottom of this wedge we will be sitting on the bottom bollinger band which could result in a huge fall with not super strong support to catch us. we would likely fall to 28.5K support but my worries are if that level breaks due to the huge bear momentum from the bottom bb we could see a bigger fall all the way to 26.5K aprx or the 0.6 Fib Level. The Macd has been pretty stagnant over the past couple days and we are almost about to see a potential bearish cross that could jumpstart this pullback, the blue MA is quickly coming up on the orange with both ma's beginning to turn to the downside, aswell the histogram has gotten very weak and is looking like we are going to see some red bars in the next day or two. Now one of my favorite indicators the hash ribbons, this is a very very powerful indicator that rarely prints a buy signal, but when it does huge gains follow, i highly suggest back testing the hash ribbons to see what im talking about, now we have seen 2 periods of capitulation recently with the first round not printing a buy and this round being very extended, if we do see a buy i imagine it will be after a pullback or nearing the end of july. Not financial advice just my opinion!
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