BitcoinUpdated We may be potentially breaking above a falling wedge here.
I'm not yet fully convinced on the validity of this wedge but it is at least worth paying attention to...if it were a valid wedge then we could see price action potentially bounce back upward to the 48-50k zone. Again I'm not yet convinced how valid this pattern is yet but thought it was worth sharing...it still seems more likely than instead breaking below the h&s neckline(not shown here) at 30k considering the h&s pattern has an impossible measured move breakdown target of like negative 4k. Considering the impossibility of that only gives this wedge pattern better odds of actually validating. Neutral for now until I see more confirmation. Obviously if the impending death cross that's looming ends up occurirng and actually sustaining itself this wedge will be null and void. Let's hope the deathcross is either a fakeout or avoided all together.
Note
Amazing! Target hit with EXACT PRECISION!! Click play and see for yourself as price action hits the target at the exact place I put the price tag! That’s no coincidence that’s sacred geometry my friends.
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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.