Broadening Descending Wedge could signify a possible bull rally!
Traditionally, as seen historically with broadening descending wedges , we may see a breakout up to the low 7000s soon. These types of moves happen quite often in these patterns, 3 touches of the bottom of the wedge and 3 touches of the top followed by a partial decline before the breakout.
Warning: I am currently in no position, I will wait for further confirmation with a clean breakout before entering any trade.
Warning: I am currently in no position, I will wait for further confirmation with a clean breakout before entering any trade.
Note
This scenario is still a possibility, huge fakeout due to the Bitmex maintenance. We have now broken out of the wedge organically and made a clean retest.Trade closed: target reached
Trade closed @ $7100, good profits! 
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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.