BitcoinLong
Watch for the DESCENDING WEDGE before BULLISH breakoout!
Bitcoin is in the final stages of forming its second phase of the BULL RUN
People are still cautious and in disbelief, and shorts are now outnumbering longs.
Look back to December 2018 and you will notice a similar descending wedge form on the bak on November 2018 capitulation
and here we are again in a similar situation.
Our current wedge shows we can go back to the previous lows of around $6500 and at its ultimate low this wedge ends at $5500
but either 1) time or 2) a bullish breakout will take us out of this wedge.
We may still consolidate a little more after the breakout but uur current wedge for me is a great opportunity to time the bottom
Plan your strategy accordingly! :D
People are still cautious and in disbelief, and shorts are now outnumbering longs.
Look back to December 2018 and you will notice a similar descending wedge form on the bak on November 2018 capitulation
and here we are again in a similar situation.
Our current wedge shows we can go back to the previous lows of around $6500 and at its ultimate low this wedge ends at $5500
but either 1) time or 2) a bullish breakout will take us out of this wedge.
We may still consolidate a little more after the breakout but uur current wedge for me is a great opportunity to time the bottom
Plan your strategy accordingly! :D
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