Falling Wedge
"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout."
We want this falling wedge to break to the upside.
If the pattern fails, we are looking at $3650 - $3750 for support.
If the pattern succeeds, we are looking at ~$4500 as our target.
This is an educational post. Thanks a lot for reading.
Hit LIKE!
Namaste.
"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout."
We want this falling wedge to break to the upside.
If the pattern fails, we are looking at $3650 - $3750 for support.
If the pattern succeeds, we are looking at ~$4500 as our target.
This is an educational post. Thanks a lot for reading.
Hit LIKE!
Namaste.
Note
Note
We have a successful breakout: Additional bullish action expected.
Thanks a lot for your support.
Note
Here is your reversal signal, a high volume Doji: Note
Everything going fine as expected: XBT updates:
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click & Claim Your FREE Pizza! 🍕)
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click & Claim Your FREE Pizza! 🍕)
Related publications
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.