BTC/USD - Rising Wedge - Start of Consolidation?
Updated
From the recent BTC price action it can be assumed that there was a fake breakout and the 11k level has hold. I have spotted a potential wedge here. Think might be a good short trade if we impulsively break it.
Will wait for the 1h candle close before going short.
Target is based on the MPO which coincides with uptrend line and 61.8% fib replacement.
Think if that uptrend line is broken we will see a broader correction back to the 9k region.
Will wait for the 1h candle close before going short.
Target is based on the MPO which coincides with uptrend line and 61.8% fib replacement.
Think if that uptrend line is broken we will see a broader correction back to the 9k region.
Order cancelled
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