Hi From a sunny Canadian Saturday :)
This looks like a falling wedge pattern which is also a trend reversal pattern.
I believe BTC will retest the bottom of the wedge one more time to about $19,000 (may also break to the down side for a short period) before the reversal begins.
A break to the upside will confirm a higher low which could mean the bottom is in.
Once confirmed the beginning of a new Elliot wave should see the price exceeding it's previous high of $25k and on to test the $28k - $30k range.
Happy & Safe Trading all
Blockbullder
This looks like a falling wedge pattern which is also a trend reversal pattern.
I believe BTC will retest the bottom of the wedge one more time to about $19,000 (may also break to the down side for a short period) before the reversal begins.
A break to the upside will confirm a higher low which could mean the bottom is in.
Once confirmed the beginning of a new Elliot wave should see the price exceeding it's previous high of $25k and on to test the $28k - $30k range.
Happy & Safe Trading all
Blockbullder
Note
So yesterday BTC hit the lower wall of the wedge as predicted, now we just wait for the break of the upper wall & a retest before we place our longs.
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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.