BitcoinLong
Bitcoin Falling Wedge Got Extended
Updated
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Ok, here's what we've got... The move upwards followed by the reversal price action yesterday created an extended and a little bigger falling wedge pattern (Bullish).
The Price and RSI Bullish divergences have not yet been fulfilled (Bullish).
Stoch RSI momentum is still directed upwards (Bullish).
Upward Breakout Probability: Medium-High
But always wait for confirmation before putting in your trades.
Watch out for Bitcoin FU moves. We just had one yesterday.
Remember to always, always place your trailing stops at the appropriate levels.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Here's my Bearish outlook:
Ok, here's what we've got... The move upwards followed by the reversal price action yesterday created an extended and a little bigger falling wedge pattern (Bullish).
The Price and RSI Bullish divergences have not yet been fulfilled (Bullish).
Stoch RSI momentum is still directed upwards (Bullish).
Upward Breakout Probability: Medium-High
But always wait for confirmation before putting in your trades.
Watch out for Bitcoin FU moves. We just had one yesterday.
Remember to always, always place your trailing stops at the appropriate levels.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Here's my Bearish outlook:
Note
We have price movement to the upside now. Note
Bullish Ascending Triangle
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