Bearish Wedge - Proceed with caution
Updated
BTC looks most likely to fall out of the wedge, and find support at the 50% fib algo target. This would be confluent with the completion of a larger scale wave 2 retracement. This is what I am seeing in my TA, but we shall find out soon enough. We may go up first, and watch out for possible bull traps.
Trade closed: target reached
All targets reached perfectly. Bounced off the 50% Algo as predicted
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.