Bitcoin - Bullish Falling Wedge - 10800$ Target
Updated
Hello,
Its been a while since I have done an update. As in the chart, we can see a falling wedge, these tend to break upwards, the technical target is around 10800$.
This pattern/Idea is only valid upon breaking out. So I wouldn't recommend buying in right away. Instead, wait for the breakout and candle closure above the resistance line for confirmation.
~DCFreak
Its been a while since I have done an update. As in the chart, we can see a falling wedge, these tend to break upwards, the technical target is around 10800$.
This pattern/Idea is only valid upon breaking out. So I wouldn't recommend buying in right away. Instead, wait for the breakout and candle closure above the resistance line for confirmation.
~DCFreak
Note
So here is the overall picture:We got the log scale resistance/downtrend line
We also have the falling wedge pattern with a target of 10.8k$
We also got an oversold Stoch RSI on the daily frame... so a rise? [kinda supports breaking up from the pattern]
10.8k$ is exactly the point where the price would reach the log downtrend line without breaking through it .... just coincidence or means something? ^^
Note
Bearish Div. watch outNote
Spinning topAlso, MACD failed to cross up, if it doesn't cross up within a couple of days then that would mean back to downtrend.
Note
As I told the tele followers, stay in BTC not LTC/ETH.... now you can see that BTC is going up much higher than ETH/LTC. This is a bullish sign.
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