BTC falling wedge on daily timeframe
Btc on the October 9th broke above the trend line on falling wedge, back to the falling wedge.
Encountered the 200ma pressure on the daily time frame.
Currently, daily 200ma acted as pressure.
Recommended that the investors can enter the market after breaking the daily 200ma.
Daily 50ma and the upper trend line of falling wedge, 9416 acted as strong pressure, hard to break through.
Can take profit near the the pressure where the upper tend line of falling wedge meets the daily ma 50.
After appearing the reversal pattern.
Recommend to enter the market with short position.
Investors can take profit near the support zone 8490~8749 when the price hit back to the daily 200ma.
Usually the breakthrough of falling wedge is quite impressive.
Corresponding to this year's weekly falling wedge, the breakthrough on April 1 to the highest price 13900.
History always repeats itself.
Encountered the 200ma pressure on the daily time frame.
Currently, daily 200ma acted as pressure.
Recommended that the investors can enter the market after breaking the daily 200ma.
Daily 50ma and the upper trend line of falling wedge, 9416 acted as strong pressure, hard to break through.
Can take profit near the the pressure where the upper tend line of falling wedge meets the daily ma 50.
After appearing the reversal pattern.
Recommend to enter the market with short position.
Investors can take profit near the support zone 8490~8749 when the price hit back to the daily 200ma.
Usually the breakthrough of falling wedge is quite impressive.
Corresponding to this year's weekly falling wedge, the breakthrough on April 1 to the highest price 13900.
History always repeats itself.
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