BitcoinLong
BTC broadening wedge
To me, BTC seems to form a broadening wedge, a pattern that you rarely see on charts and that indicates rather emotional trading. I expect price to break the wedge to the downside soon, with a subsequent retrace to around 3750-3600, where it would find a lot of support (4h 200MA, Ichimoku cloud, VPVR). From there, there is a possible rally to around 4400 (resistance level and daily 50 EMA).
Let me know what you think, I'm new at this :)
And obviously, none of this is financial advice.
Let me know what you think, I'm new at this :)
And obviously, none of this is financial advice.
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.
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.