Hi everyone,
BTC, after almost 4 months, finally broke the downtrend line that was playing as resistance. This trendline also form a descending wedge. The line finally was violently broke by a 3k pump. Since then, BTC is testing this line as support waiting for a move.
Main idea, big pump broke the descending wedge, now testing the bullish break and ready to long.
Invalidation, daily candle closing inside the wedge again. This would make the pump a fakeout and BTC testing the lower side of the wedge.
Regards,
BTC, after almost 4 months, finally broke the downtrend line that was playing as resistance. This trendline also form a descending wedge. The line finally was violently broke by a 3k pump. Since then, BTC is testing this line as support waiting for a move.
Main idea, big pump broke the descending wedge, now testing the bullish break and ready to long.
Invalidation, daily candle closing inside the wedge again. This would make the pump a fakeout and BTC testing the lower side of the wedge.
Regards,
Note
After daily candle closing inside the wedge, I shorted,Note
According to the planNote
Short closed 6600 USD in the lower side of the descending wedge.From there long until de upper side of the wedge. Brake out failed, testing again as resistence the upper side,
Now short again until the lower side, again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.