BTC/USD – Mid-Term Retrace 4200-4400
Possible scenario until mid-November.
BTC/USD rising wedge pattern, traditionally breaks to the downside.
If 5450 (23.6% fib) is broken to the downside, support at 4200-4400 (61.8% fib).
Previous pullbacks have typically retraced to the 61.8% fib.
BTC/USD rising wedge pattern, traditionally breaks to the downside.
If 5450 (23.6% fib) is broken to the downside, support at 4200-4400 (61.8% fib).
Previous pullbacks have typically retraced to the 61.8% fib.
Note
Possible H&S forming at the top of this wedge:Volume is really low. Hard to imagine going any higher than previous ATH at the moment. I think the top was in for now.
Trade closed manually
This call was made too early. No full correction until the B2X hardfork.
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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.