1st Post - BTC FALLING WEDGE (CONTINUATION)
Updated
Please don't listen to anything I say...I've never actually done TA until this post.
Anyway, here is what I see.
A falling wedge in an uptrend (1 Hour Timeframe).
I would expect
BTC to bounce around the wedge until we reach around either of the light blue horizontal lines (effectively, the pink area).
After that, I would expect (hope) for a breakout from the top of the wedge.
Depending on where the last bounce is on the bottom of the wedge, I would expect a 11%-16% increase in price from the point of breakout in about 1-2 days.
**Again, this is my 1st post - so please don't actually make a decision off of my analysis. However, I would appreciate anyone's feedback (good or bad). Thanks!**
Anyway, here is what I see.
A falling wedge in an uptrend (1 Hour Timeframe).
I would expect
BTC to bounce around the wedge until we reach around either of the light blue horizontal lines (effectively, the pink area).After that, I would expect (hope) for a breakout from the top of the wedge.
Depending on where the last bounce is on the bottom of the wedge, I would expect a 11%-16% increase in price from the point of breakout in about 1-2 days.
**Again, this is my 1st post - so please don't actually make a decision off of my analysis. However, I would appreciate anyone's feedback (good or bad). Thanks!**
Comment
Had the right idea, but definitely missed the pink area. I had a couple bids placed around there, but since we never dropped low enough, I missed out on the run.
Considering placing bids in potential breakout zones next time.
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